Get the data set "HOUSE SALE DATA" from the UAS online website. I found this data set from Alan Agresti's home page. He is a well know statistician and text book author. The set shows selling price of 93 homes as compared to the size, the number of bedrooms, the number of bathrooms and if it was a new home or not.

NOTE:

The price is in thousands so 48.5 means $48500. The size is in thousands of square feet, so 1.1 means 1100 sq. ft. When writing conclusions or presenting results express the price as $48,500, instead of 48.5. But for computation you may use the 48.5, ok?

Sort and separate the data set by new and old houses. If the house is new then there will be a 1 in the New column. Call the old houses "Sample 1" and the new houses "Sample 2".

Hint: Insert a copy of the NEW column in the first position and then use the sort button.

1. 5 points
   Is the sample size large enough to make use of the central limit theorem?
   Construct a 95% confidence interval for the mean price for old houses.
   ₁
2. 5 points
   What method is appropriate considering the sample size?
   Construct a 95% confidence interval for the price of the new houses.
   ₂
3. 5 points
   Construct a confidence interval for the difference in the two means:
   ₁ - ₂
4. 5 points
   Write a paragraph of conclusion, noting that zero is (or isn't) contained in the above confidence interval and what this implies about the two means. There is a comment about this in chapter 8, "Estimating mu ₁ -mu ₂ ".
5. 5 points

Construct side by side box-plots to display the two samples. See the end of chapter 3, for some examples. There is an example of making a box-plot with Excel in one of the handouts on the website.

Price: $13.07

Solution: The downloadable solution consists of 7 pages, 607 words and 24 charts.
Deliverable: Word Document