The file "Home data - Stockton.xls" contains the data you will be using for this exercise.It is a random sample of 2,610 homes sold in Stockton, CA, between the years 1996 and 1998. This file is in Excel format https://1drv.ms/x/s!AlyfdnnLcx87nArXB1N-PLLBvbRE?e=EaoxqJ (".xls"). There is a "data dictionary" (in pdf format) that accompanies the dataset. Both the dataset and the data dictionary are posted on Blackboard.

Using the sample data, construct an 87% confidence interval for the population mean of house prices in Stockton (CA) between the years 1996 and 1998.

Your friend claims that the population mean for house prices in Stockton (CA) between the years 1996 and 1998 was $124,500. Using both the t-stat method and the p-value method, do you statistically "reject" or "fail to reject" your friend's null hypothesis at the 4% significance level?