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Suppose a Realtor is interested in comparing the asking prices of midrange homes in Peoria, Illinois, and Evansville, Indiana. The Realtor conducts a small telephone
Suppose a Realtor is interested in comparing the asking
prices of midrange homes in Peoria, Illinois, and Evansville,
Indiana. The Realtor conducts a small telephone survey in the
two cities, asking the prices of midrange homes. A random
sample of 21 listings in Peoria resulted in a sample average
price of $116,900, with a standard deviation of $2,300. A
random sample of 26 listings in Evansville resulted in a
sample average price of $114,000, with a standard deviation
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