3.Question 3

A real estate agent has collected a random sample of 40 houses that were recently sold in Grand Rapids, Michigan. She is interested in comparing the appraised value and recent selling price (in thousands of dollars) of the houses in this particular market. The values of these two variables for each of the 40 randomly selected houses are shown below.

Download and work on the "Real Estate.xlsx " spreadsheet. If you have any issue with downloading, simply copy and paste the scores below to a new Excel spreadsheet.

House	Value	Price	House	Value	Price
1	140.93	140.24	21	136.57	135.35
2	132.42	129.89	22	130.44	121.54
3	118.30	121.14	23	118.13	132.98
4	122.14	111.23	24	130.98	147.53
5	149.82	145.14	25	131.33	128.49
6	128.91	139.01	26	141.10	141.93
7	134.61	129.34	27	117.87	123.55
8	121.99	113.61	28	160.58	162.03
9	150.50	141.05	29	151.10	157.39
10	142.87	152.90	30	120.15	114.55
11	155.55	157.79	31	133.17	139.54
12	128.50	135.57	32	140.16	149.92
13	143.36	151.99	33	124.56	122.08
14	119.65	120.53	34	127.97	136.51
15	122.57	118.64	35	101.93	109.41
16	145.27	149.51	36	131.47	127.29
17	149.73	146.86	37	121.27	120.45
18	147.70	143.88	38	143.55	151.96
19	117.53	118.52	39	136.89	132.54
20	140.13	146.07	40	106.11	114.33

Reporttwo decimal places in your answers.

(A) Are the two samples paired or independent? _____________

(B) Use the sample data to generate a 95% confidence interval for the mean difference between the appraised values and selling prices of the houses sold in Grand Rapids.

(C) What is the t-multiple being used in the calculation of Part (B)?

(D) What is the standard error being used in the calculation of Part (B)?

(E) What is the half-length confidence interval (i.e., half-length B) according to the result of Part (B)?