Marcus Robert Real Estate Company wants to test whether the average sale price of residential properties in a certain size range in Bel Air, California, is approximately equal to the average sale price of residential properties of the same size range in Marin County, California.
The company gathers data on a random sample of 32 properties in Bel Air and finds x‾ = $2.5 million and s = $0.41 million. A random sample of 35 properties in Marin County gives x‾= $4.32 million and s = $0.87 million. Is the average sale price of all properties in both locations approximately equal or not? Explain