Question

A real estate agent compares the selling prices of homes in two suburbs of Seattle to see whether there is a significant difference in price. The results of the study are shown below.

	Suburb 1	Suburb 2
x¯	$63,255	$60,102
s	$5,602	$4,731
n	35	40

1. Find the p-value for the test and round to 4 significant decimal places.

2. Find the 99% confidence interval for the difference in means. Put your answers in (a, b) form and round to 3 significant decimals.

Answer 1

The statistical software output for this problem is :

(1)

p-value = 0.0111

(2)

The 99% confidence interval for the difference in means is :

(-46.382 , 6352.382)