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    Fairfield Homes

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    Fairfield Homes is developing two parcels near Pigeon Fork, Tennessee. In order to test different
    advertising approaches, they use different media to reach potential buyers. The mean annual family
    income for 75 people making inquiries at the first development is $150,000, with a standard
    deviation of $40,000. A corresponding sample of 120 people at the second development had a
    mean of $180,000, with a standard deviation of $30,000. At the .05 significance level, can Fairfield
    conclude that the population means are different?

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    https://brainmass.com/statistics/hypothesis-testing/fairfield-homes-25783

    Solution Summary

    Fairfield Homes is developing two parcels near Pigeon Fork, Tennessee. In order to test different
    advertising approaches, they use different media to reach potential buyers. The mean annual family
    income for 75 people making inquiries at the first development is $150,000, with a standard
    deviation of $40,000. A corresponding sample of 120 people at the second development had a
    mean of $180,000, with a standard deviation of $30,000. At the .05 significance level, can Fairfield
    conclude that the population means are different?

    $2.19

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