Fairfield Homes is developing two parcels near Pigeon Fork,Tennessee. In order to test different advertising approaches, ituses different media to reach potential buyers. The mean annualfamily income for 19 people making inquiries at the firstdevelopment is $160,000, with a standard deviation of $37,000. Acorresponding sample of 27 people at the second development had amean of $181,000, with a standard deviation of $32,000. Assume thepopulation standard deviations are the same.
State the decision rule for .01 significance level:H0: μ1 =μ2;H1:μ1 ≠μ2. (Negative amountsshould be indicated by a minus sign. Round youranswers to 3 decimal places.)
RejectH0 if t is notbetween and .2.
Compute the value of the test statistic.(Negative amount should be indicated by aminus sign. Round your answer to 2 decimalplaces.)
Value of the teststatistic 3.At the .01 significance level,can Fairfield conclude that the population means aredifferent? (Click to select) A. Reject or B. Donot reject H0.Fairfield (Click to select) A. cannot orB.can conclude that the population means aredifferent.