Question: Economics and Finance Representative Bill Cassidy has become concerned about the disparity in home prices in Louisiana's 6th district (Monroe). A random sample of homes sold within the past year in each of two parishes was obtained. The summary statistics are given in the table below. Prices are in dollars.
a. Find a 99% confidence interval for the mean selling price of all homes in East Feliciana Parish.
b. Find a 99% confidence interval for the mean selling price of all homes in Iberville Parish.
c. Using the confidence intervals in parts (a) and (b), is there any evidence to suggest that the mean selling price is different for the two parishes? Justify your answer.