Two real estate companies, Century 21 and RE/MAX, compete with one another in a local market. The manager of the Century 21 office would like to advertise that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company. The following data shows the sample size and average number of days on the market for the two companies along with the population standard deviations.
Two real estate companies, Century 21 and RE/MAX, compete with one another in a local market. The manager of the Century 21 office would like to advertise that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company. The following data shows the sample size and average number of days on the market for the two companies along with the population standard deviations.
|
|
Century 21 |
RE/MAX |
|
Sample mean |
122 days |
144 days |
|
Sample size |
36 |
30 |
|
Population standard deviation |
32 days |
35 days |
If Population 1 is defined as RE/MAX and Population 2 is defined as Century 21, the standard error of the difference between two means for this hypothesis test would be ________.
- A) 4.17
- B) 8.32
- C) 10.69
- D) 13.55
Please explain how you got to the correct answer.
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