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a) Construct a 95% confidence interval for mu1 (213,872) -- Standard deviation: 69,261, the expected price of real estate in the zone1 and for mu2 (256,684) -- Standard deviation: 93,192, the expected price of real estate in zone 2. Are the confidence intervals overlapping ? Check all the necessary assumptions that are required to perform these calculations.

b) Construct now the 95% confidence interval for the difference mu1-mu2. Could you conclude that mu1 and mu2 are different ? Explain your answer.

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  • Category:- Statistics and Probability
  • Reference No.:- M91002899

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