Solve the below:
Q: What is the difference in the average daily hotel room rates between Minneapolis and New Orleans? Suppose we want to estimate this difference by taking hotel rate samples from each city and using a 98% confidence level. The data for such a study follows.
Use this data to produce an interval estimate and also a point estimate for the mean difference in the hotel rates for the two cities. Assume the population variances are approximately equal and hotel rates in any given city is normally distributed.
MINNEAPOLIS---NEW ORLEANS
nm = 22--------nno = 20
Xm = $112------Xno = $122
Sm = $11-------Sno = $12