1. You have been provided information on summary statistical data for two neighborhoods. Specifically, you have been provided calculations on the Average Price Per Square Foot, Average Age and Average, and the Average Prices for houses in the two neighborhoods and the Standard Deviation of each variable. 
2. Apply the method of Confidence Intervals at (97%) to Estimate answer the question whether:
   1. Average Age of House in each neighborhood is significantly different from 60 years
   2. Average Price of Houses in each neighborhood is significantly different from $415,000
   3. List at least two reasons that you think that the Average Price of houses and the Average Age of Houses in one neighborhood will be different from the other neighborhood in the file (You may use personal knowledge of the neighborhoods).

      Comparative Descriptive Statistics – Arocher vs Borough Park Average Price per Square Foot, Average Age of House & Average Price of House
      Neighborhood and Sample Size (n)	Average	Standard Error	Standard Deviation
      Average Age of House
      Staten Island, Arocher (40)	39.4250	4.48128	28.34213
      Brooklyn, Borough Park (49)	91.6939	2.04233	14.29628
      Average Price of House
      Staten Island, Arocher (40)	$396,374.30	$14,930.990	$94,431.873
      Brooklyn, Borough Park (49)	$696,638.78	$24,093.715	$168,656.005

Answer rating: 100% (QA)

I Confidence Interval can be calculated by Average torit x standard Exror or Average tont x Stand... View the full answer