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An real estate agent is comparing the average price for 3-bedroom, 2-bath homes in Chicago and Denver: Samples from each city provide the following data: Chicago: Xc " 5148,000, 0 <= 512,000,n2 20 Denver: Xo 5142,500, 00 S10,000,np= 18 Suppose he is conducting test to see if there evidence to prove Chicago has higher average price than Denver. State the proper null and alternate hypothesis Click the answer you think is right

Answer :

To maintain your standard of living in Denver, CO, you'll need a household income of: $46,267. The cost of living is 7% lower in Denver, CO.

What is cost of living?

The Cost of Living Index - COLI from of the Council for Communities and Economic Research provides the fundamental information on cost of living. Price collection is done by cities at designated times and in strict accordance with established standards. The cost of living in a new city or town is one of the most crucial decisions you must make before moving there. The "cost of living" is the sum of money required to support a specific way of life in a particular location.

Determining the cost of living would reveal how expensive it is to live in a particular location because the cost of products and services vary from city to city.

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