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What is the Z-Value? Analysis: The 95% confidence intervals for the mean selling price of homes with and without swimming pools suggest that there is
What is the Z-Value? Analysis: The 95% confidence intervals for the mean selling price of homes with and without swimming pools suggest that there is a difference in the selling prices of these two types of homes. The mean selling price for homes without a swimming pool is estimated to be between $1,113,358.32 and $1,392,888.59, while the mean selling price for homes with a swimming pool is estimated to be between $898,183.29 and $1,341,503.52. This suggests that homes without a swimming pool may, on average, sell for a higher price than homes with a swimming pool. To further investigate this, a hypothesis test was conducted to compare the mean selling prices of homes with and without swimming pools. The null hypothesis for this test is that there is no difference in the mean selling prices of the two types of homes, while the alternative hypothesis is that there is a difference, H0: 1 = 2, Ha : 1 2
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