A real estate agency wants to compare the appraised values of single-family homes in two cities in Michigan. A sample of 60 listings in Lansing and 99 listings in Grand Rapids yields the following results (in thousands of dollars): 
-(A) Is there evidence of a significant difference in the average appraised values for single-family homes in the two Michigan cities? Use 0.05 level of significance.
(B) Have any of the assumptions made in (A) been violated? Explain.
(C) Construct a 95% confidence interval estimate of the difference between the population means of Lansing and Grand Rapids.
(D) Explain how to use the confidence interval in (C) to answer (A).
Definitions:
Market
A system or arena in which commercial dealings are conducted, often defined by the goods or services available for trade.
Externalities
Financial outcomes or repercussions that impact third parties who are not directly involved; these can be positive or negative.
Invisible Hand
A term coined by Adam Smith to describe the self-regulating nature of the marketplace in adjusting supply and demand autonomously.
Marketplace
A physical or digital venue where buyers and sellers come together to exchange goods, services, or information.
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