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Chapter 9: Q-27E (page 522)

Contingent valuation of homes in contaminated areas. Contingent valuation (CV) is a method of estimating property values that uses survey responses from potential homeowners. CV surveys were employed to determine the impact of contamination on property values in the Journal of Real Estate Research (Vol. 27, 2005). Homeowners were randomly selected from each of seven states鈥擪entucky, Pennsylvania, Ohio, Alabama, Illinois, South Carolina, and Texas. Each homeowner was asked to estimate the property value of a home located in an area contaminated by petroleum leaking from underground storage tanks (LUST). The dependent variable of interest was the LUST discount percentage (i.e., the difference between the current home value and estimated LUST value as a percentage). The researchers were interested in comparing the mean LUST discount percentages across the seven states.

a. Give the null and alternative hypotheses of interest to the researchers.

b. An ANOVA summary table is shown below. Use the information provided to conduct the hypothesis test, part a. Use \(\alpha = 0.10\).

Short Answer

Expert verified

The null and the alternative hypotheses are

\({H_0}\): The mean road rage score differs for the 3 income groups

\({H_a}\) : At least two of the mean road rage score differs for the 3 income groups

Step by step solution

01

Given information

The null and the alternative hypotheses are

\({H_0}\): The mean road rage score differs for the 3 income groups

\({H_a}\) : At least two of the mean road rage score differs for the 3 income groups

02

Given information

Given data is as follows

03

Concept of the null and the alternative hypothesis

The null hypothesis of a test always predicts no effect or no relationship between variables, whereas the alternative hypothesis outlines your study's prediction of an effect or relationship.

04

Setting up the null and the alternative hypothesis

a.

The hypotheses are

\({H_0}\): The mean road rage score differs for the 3 income groups

i.e \({H_0}:{\mu _1} = {\mu _2} = {\mu _3}\)

\({H_a}\) : At least two of the mean road rage score differs for the 3 income groups

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