Question: A neighborhood home owners association suspects that the recent appraisal values of the houses in the neighborhood conducted by the county government for taxation purposes is too high. It hired a private company to appraise the values of ten houses in the neighborhood. The results, in thousands of dollars, are
a. Give a point estimate for the difference between the mean private appraisal of all such homes and the government appraisal of all such homes.
b. Construct the 99% confidence interval based on these data for the difference.
c. Test, at the 1% level of significance, the hypothesis that appraised values by the county government of all such houses is greater than the appraised values by the private appraisal company.