Summary Results

Question

     1.       Appropriate descriptive statistics to summarize each of the three variables   for the forty Gulf View condominiums  

 2.     Appropriate   descriptive statistics to summarize each of the three variables for the   eighteen No-Gulf View condominiums  

 3.     Comparison of   your summary results from #1 & #2. Discuss any specific statistical   results that would help a real estate agent understand the condominium   market.

  4.     A 95%   confidence interval estimate of the population mean sales price and   population mean number of days to sell for Gulf View condominiums. Also,   interpret the results.  

 5.     A 95%   confidence interval estimate of the population mean sales price and   population mean number of days to sell for No-Gulf View condominiums. Also,   interpret the results.   Also, consider the following scenario and   include your responses in your Report:   

6.     Assume the   branch manager requested estimates of the mean selling price of Gulf View   condominiums with a margin of error of $40,000 and the mean selling price of   No-Gulf View condominiums with a margin of error of $15,000. Using 95%   confidence, how large should the sample sizes be? 

       TABLE 8.7 SALES DATA FOR   GULF REAL ESTATE PROPERTIES           Gulf   View Condominiums No Gulf View Condominiums           List Price Sale Price Days to Sell List Price Sale Price Days to Sell   495 475 130 217 217 182   379 350 71 148 135.5 338   529 519 85 186.5 179 122   552.5 534.5 95 239 230 150   334.9 334.9 119 279 267.5 169   550 505 92 215 214 58   169.9 165 197 279 259 110   210 210 56 179.9 176.5 130   975 945 73 149.9 144.9 149   314 314 126 235 230 114   315 305 88 199.8 192 120   885 800 282 210 195 61   975 975 100 226 212 146   469 445 56 149.9 146.5 137   329 305 49 160 160 281   365 330 48 322 292.5 63   332 312 88 187.5 179 48   520 495 161 247 227 52   425 405 149    675 669 142   409 400 28   649 649 29   319 305 140   425 410 85   359 340 107   469 449 72   895 875 129   439 430 160   435 400 206   235 227 91   638 618 100   629 600 97   329 309 114   595 555 45   339 315 150   215 200 48   395 375 135   449 425 53   499 465 86   439 428.5 158