Two-sample hypothesis testing
a)Calculate summary statistics for the data.
b)What test is more appropriate (a two-sample test or a paired test) to assess whether there is evidence of a mean difference in the appraised values and selling prices? Explain your reasoning.
c)Using this sample data, test whether there is a statistically significant mean difference between the appraised values and selling prices of the houses sold in this suburban community.
1)Set up the appropriate null and alternative hypothesis for this situation. Specify whether this is a one-tailed test or a two-tailed test and explain your reasoning.
2)Use StatTools to conduct the test and compute the p-value for your test statistic. For which level of significance is it appropriate to conclude that no difference exists between these two values? Copy and paste the output generated by StatTools.