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A certain association provided data on the cost of the most popular home remodeling projects. Sample data on the cost in thousands of dollars for two types of remodeling projects are as follows.
Kitchen Master Bedroom
25.2 18.0 16.4 22.9 21.8 26.4 20.9 24.8 18.7 26.9 22.0 17.8 19.7 24.6 15.9 21.0 21.8 22.6
(a) Develop a point estimate of the difference in thousands of dollars) between the population mean remodeling costs for the two types of projects. (Use Kitchen - Master Bedroom.) thousand (b) Develop a 90% confidence interval for the difference in thousands of dollars) between the two population means. (Use Kitchen - Master Bedroom. Round your answers to one decimal place.)

Sagot :

As per the given confidence interval, the population mean remodeling costs for the two types of projects is -1.6

Confidence interval

The  range of values that's likely to include a population value with a certain degree of confidence is known as confidence interval.

Given,

A certain association provided data on the cost of the most popular home remodeling projects.

Here we need to find the the population mean remodeling costs for the two types of projects.

Here we will find the point estimate of the difference between the population mean remodeling costs for the two types of projects using an equation,

=> X1​ − X2​

In order to calculate the sample mean we will use equation,

=> X = ∑x/n

Now, we have to substitute values we get,

=> X1 ​= 21.2

=> X2 ​= 22.8

Here X1 refers the sample mean remodeling costs for the kitchen and X2​refers the sample mean remodeling cost for the master bedroom.

Therefore, the point estimate of the difference between the population mean remodeling costs for the two types of projects are,

=> X1 ​− X2​ ​= −1.6

Therefore, we estimate that the remodeling master bedroom has the mean costs of 1.6 greater than mean remodeling costs for the kitchen.

To know more about Confidence interval here

https://brainly.com/question/24131141

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