3. The developer in Exercise 1 hires an assistant to collect a random sample of houses from each neighborhood and finds that the summary statistics for the two neighborhoods look as follows:

a) Find the estimated mean age difference between the two neighborhoods.

b) Find the standard error of the estimated mean difference.

c) Calculate the t-statistic for the observed difference in mean ages assuming that the true mean difference is 0.

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Neighborhood 1 Neighborhood 2 n = 30 2 2 = 35 J = 57.2 yrs V2 = 47.6 yrs S = 7.51 yrs $ = 7.85 yrs