Appraising the values of ten houses in the neighborhood

Assignment Help Basic Statistics

Reference no: EM131813875

Question: A neighborhood home owners association suspects that the recent appraisal values of the houses in the neighborhood conducted by the county government for taxation purposes is too high. It hired a private company to appraise the values of ten houses in the neighborhood. The results, in thousands of dollars, are

a. Give a point estimate for the difference between the mean private appraisal of all such homes and the government appraisal of all such homes.

b. Construct the 99% confidence interval based on these data for the difference.

c. Test, at the 1% level of significance, the hypothesis that appraised values by the county government of all such houses is greater than the appraised values by the private appraisal company.

Reference no: EM131813875

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