Question
The market researcher would like to compare Sydney house prices ($000) in two different types of houses one having modern central air conditioning and the
The market researcher would like to compare Sydney house prices ($000) in two different types of houses one having modern central air conditioning and the other without aircon. Assuming that the population variances for both type of house prices are equal, perform an appropriate hypothesis test, at 95% confidence. The market researcher is interested in determining whether there is a significant difference in the average house prices in two different types of houses. Find 95% confidence interval for the difference in means and interpret the resulting bound.
| price ($000) | aircon |
| 900 | no |
| 400 | no |
| 1000 | no |
| 650 | no |
| 1088 | no |
| 551 | no |
| 750 | no |
| 1163 | no |
| 656 | no |
| 550 | no |
| 1125 | no |
| 430 | no |
| 425 | no |
| 811 | no |
| 750 | no |
| 981 | no |
| 713 | no |
| 600 | no |
| 450 | no |
| 694 | no |
| 600 | no |
| 1125 | no |
| 557 | no |
| 749 | no |
| 938 | no |
| 988 | no |
| 425 | no |
| 756 | no |
| 525 | no |
| 656 | no |
| 556 | no |
| 644 | no |
| 625 | no |
| 700 | no |
| 1086 | no |
| 661 | no |
| 813 | no |
| 1406 | yes |
| 813 | yes |
| 1188 | yes |
| 713 | yes |
| 1100 | yes |
| 1400 | yes |
| 799 | yes |
| 650 | yes |
| 1544 | yes |
| 913 | yes |
| 950 | yes |
| 1325 | yes |
| 1106 | yes |
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
