The National Association of Realtors publishes information on the cost of existing single-family homes in Median Sales
Question:
The National Association of Realtors publishes information on the cost of existing single-family homes in Median Sales Price of Existing Single-Family Homes for Metropolitan Areas.
Independent random samples of 10 homes each in Atlantic City and Las Vegas yielded the following data on home prices in thousands of dollars.
Atlantic City Las Vegas 207.2 166.0 177.65 182.75 186.2 229.6 165.95 162.15 596.3 223.4 418.15 125.85 265.2 370.7 121.25 488.95 209.3 275.1 300.65 129.75 At the 5% significance level, can you conclude that the median costs for existing single-family homes differ in Atlantic City and Las Vegas? (Note: Preliminary data analyses suggest that you can reasonably presume that the cost distributions for the two cities have roughly the same shape but that those distributions are right skewed.)
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