MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Russell is doing some research before buying his first house. He is looking at two different areas of the city, and he wants to know if there is a significant difference between the mean prices of homes in the two areas. For the 39 homes he samples in the first area, the mean home price is $174,900. Public records indicate that home prices in the first area have a population standard deviation of $22,020. For the 31 homes he samples in the second area, the mean home price is $195,800. Again, public records show that home prices in the second area have a population standard deviation of $22,715. Let Population 1 be homes in the first area and Population 2 be homes in the second area. Construct a 99% confidence interval for the true difference between the mean home prices in the two areas. Round the endpoints of the interval to the nearest whole number, if necessary.

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