If a random sample of 23 homes south of a town has a mean selling price of $145,350 and a standard deviation of $4725, and a random sample of 19 homes north of a town has a mean selling price of $148,400 and a standard deviation of $5750, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality. (a) Find t. (Round your answer to two decimal places.) (ii) Find the p-value. (Round your answer to four decimal places.)

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.