In+terms+of+resale+value,+is+remodeling+a+kitchen+worth+the+cost?+at+the+5%+significance+level,+what+can+you+conclude?

Answer by Guest

The resale value is not significantly higher than the cost of remodeling a kitchen based on the computed p-value of 0.42 and 0.21.

What is the null hypothesis?

• Any variation between the selected attributes that you observe in a collection of data is thought to be the result of chance, according to the null hypothesis.
• For instance, any discrepancy between the average profits in the data and zero is caused by chance if the expected earnings for the gambling game are actually equal to zero.
• An assertion that there is no correlation between two population measures is referred to as a null hypothesis.
• To prepare the ground for additional experimentation or study that explains the position of interest, researchers reject or refute the null hypothesis.

Both the p-values of 0.42 and 0.21 are greater than the level of significance of 0.05. Hence, we fail to reject the null hypothesis. So, the resale value is not significantly higher than the cost of remodeling a kitchen based on the computed p-value of 0.42 and 0.21.

To learn more about the null hypothesis, refer to:

brainly.com/question/25263462

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