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Question 6: (from chapter 10) A neighborhood home owners association suspects that the recent appraisal values of the houses in the neighborhood conducted by the
Question 6: (from chapter 10) A neighborhood home owners association suspects that the recent appraisal values of the houses in the neighborhood conducted by the county government for taxation purposes is too high. It hired a private company to appraise the values of ten houses in the neighborhood. The results, in thousands of dollars, are: House County Government Private Company 1 218 220 2 351 339 3 297 292 4 238 238 5 238 236 6 273 270 7 258 240 8 278 276 9 313 321 10 226 336 a. Give a point estimate for the difference between the mean private appraisal of all such homes and the government appraisal of all such homes. b. Construct the 99% confidence interval based on these data for the difference. c. Test, at the 1% level of significance, the hypothesis that appraised values by the county government of all such houses is greater than the appraised values by the private appraisal company
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