Suppose that a realtor is interested in comparing the price of a starter homes in two small cities.The realtor conducts a survey in the two cities looking at the price of starter homes.The information collected is provided below. $\begin{array} { l r r } & \text { City A } & \text { City B } \\\text { Sample Mean } & 86,900 & 84,000 \\\text { Sample Std Dev } & 2300 & 1750 \\\text { Sample Size } & 9 & 7\end{array}$
Assuming equal population variances,what is the pooled estimate of ?²?

Question

Suppose that a realtor is interested in comparing the price of a starter homes in two small cities.The realtor conducts a survey in the two cities looking at the price of starter homes.The information collected is provided below.

\begin{array} { l r r } & \text { City A } & \text { City B } \\\text { Sample Mean } & 86,900 & 84,000 \\\text { Sample Std Dev } & 2300 & 1750 \\\text { Sample Size } & 9 & 7\end{array}

Assuming equal population variances,what is the pooled estimate of ?²?

Quizplus · Accepted Answer

The pooled estimate of ?² is calculated as:?² = [(n₁-1)s₁² + (n₂-1)s₂²] / (n₁ + n₂ - 2)where n₁ and n₂ are the sample sizes, s₁ and s₂ are the sample standard deviations.Substituting the given values, we get:?² = [(9-1)2300² + (7-1)1750²] / (9 + 7 - 2)= [16100000 + 15312500] / 14= 31412500 / 14= 2243750Therefore, the pooled estimate of ?² is 2243750.

Suppose That a Realtor Is Interested in Comparing the Price