Home values tend to increase over time under normal conditions, but the recession of 2008and 2009 has reportedly caused the sales price of existing homes to fall nationwide (BusinessWeek,March 9,...

Home values tend to increase over time under normal conditions, but the recession of 2008and 2009 has reportedly caused the sales price of existing homes to fall nationwide (BusinessWeek,March 9, 2009). You would like to see if the data support this conclusion. Thefile HomePrices contains data on 30 existing home sales in 2006 and 40 existing home salesin 2009.a. Provide a point estimate of the difference between the population mean prices for thetwo years.b. Develop a 99% confidence interval estimate of the difference between the resale pricesof houses in 2006 and 2009.c. Would you feel justified in concluding that resale prices of existing homes havedeclined from 2006 to 2009? Why or why not?

May 26, 2022
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