1.The file "Home data - Stockton.xls" contains the data you will be using for this exercise.It is a random sample of2,610homes sold in Stockton, CA, between the years 1996 and 1998.This file is in Excel format (".xls").There is a "data dictionary" (in pdf format) that accompanies the dataset.Both the dataset and the data dictionary are posted on Blackboard.

a.Construct a92% confidence intervalfor thepopulation meanof house prices in Stockton (CA) between the years 1996 and 1998.

b.Your friend claims that thepopulation meanfor house prices in Stockton (CA) between the years 1996 and 1998 was $124,500.Using both the t-stat and the p-value methods, do you statistically "reject" or "fail to reject" your friend'snull hypothesisat the3%significance level?

Link for data https://docs.google.com/spreadsheets/d/1Clv7WUsN2mqgLSRF1R66z0KDTkOup3uOBrj1dN2SCaI/edit?usp=sharing