Question

Sample means:

X1= 1149.36

X2=1028.92

Standard deviations:

S1=221.84

S2=182.54

Sample sizes:

n1= 25

n2=25

Spring_Valley   AU_Park
1375            910
1399            935
1450            1160
1270            800
970             910
1350            1020
925             1020
875             860
1000            850
1120            873
1130            1300
1200            1100
830              795
1300            1220
1220            985
925             1060
885             1040
1560             925
1380            1450
1250            1350
900             1280
900             1160
1150             975
1440             950
930              795

Column	n	Mean	Std.dev.	Median
Spring Valley	25	1149.36	221.84	1150
AU Park	25	1028.92	182.54	985

(a) Use StatCrunch/excel/minitab to test whether there exists a difference in house prices in Spring Valley versus AU Park at α = 0.05.

(i) State the hypotheses that you want to test.

(ii) Record the value of the test statistic and its p-value.

(iii) What do you conclude for the test at α = 0.05?

Answer 1

Sample Mean 1 (Xˉ1​) =	1149.36
Sample Standard Deviation 1 (s1​) =	221.84
Sample Size 1 (N1​) =	25
Sample Mean 2 (Xˉ2​) =	1028.92
Sample Standard Deviation 2 (s2​) =	182.54
Sample Size 2 (N2​) =	25