Question
A real estate agent believes that the mean home price in the northern part of a county is higher than the mean price in the
A real estate agent believes that the mean home price in the northern part of a county is higher than the mean price in the southern part of the county and would like to test the claim. A simple random sample of housing prices is taken from each region. The results are shown below.
Southern Northern
Mean 154.889 167.833
Variance 354.458 521.912
Observations 18 18
Pooled Variance 438.185
Hypothesized Mean Difference 0
df 34
t Stat 1.885
P(T<=t) one-tail 0.036
t Critical one-tail 1.691
P(T<=t) two-tail 0.072
t Critical two-tail 2.032
Confidence Level 95%
Answer the following:
n=
Point estimate for the southern part of the county: xS=
Degrees of freedom: df=
p=
t=
Point estimate for the northern part of the county: xN=
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