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Perform the appropriate test and interpret results

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Reference no: EM132166987

You are studying vacation rentals in a particular area identified by population,1 and population 2. You believe the mean price paid by population 2 should be greater than the mean price paid by population 1. Upon taking random samples of 15 from population one, you calculate a mean of $500 with a variance (s- squared) of $50625. You have 20 random samples from population 2 with a sample mean of $700 in a variance, $52900.

A. Set up appropriate hypotheses.

B. Perform the appropriate test and interpret your results

C. Construct a 95 percent confidence interval that will contain the true difference between the population means

Reference no: EM132166987

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