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Statistics Questions:

7. Gulf Real Estate Properties just signed contracts for two new listings:…

Complete Question Text:

7. Gulf Real Estate Properties just signed contracts for two new listings: a Gulf View condominium with a list price of $589,000 and a No Gulf View condominium with a list price of $285,000. What is your estimate of the final selling price and number of days required to sell each of these units?

1.) Gulf View Condominiums 2.) No Gulf View Condominiums
List Price1 Sale Price1 Days to Sell1 List Price2 Sale Price2 Days to Sell2
XBAR 474.01 454.22 106.00 XBAR 212.81 203.19 135.00
Q1 334.18 314.75 71.75 Q1 181.55 177.13 74.75
Q2 437.00 417.50 96.00 Q2 212.50 203.50 126.00
Q3 550.63 522.88 136.25 Q3 238.00 229.25 149.75
IQR 216.45 208.13 64.50 IQR 56.45 52.13 75.00
STDEV 197.29 192.52 52.22 STDEV 48.95 43.89 76.30
MEDIAN 437.00 417.50 96.00 MEDIAN 212.50 203.50 126.00




Sales Price Days to sell
4. Develop a 95% confidence interval estimate of the population mean sales price and 59.6607736 16.18161513
394.56 89.82
population mean number of days to sell for Gulf View condominiums. Interpret 513.88 122.18

your results.


5. Develop a 95% confidence interval estimate of the population mean sales price and Sales Price Days to sell
20.27656919 35.24802394
population mean number of days to sell for No Gulf View condominiums. Interpret 182.91 99.75
223.47 170.25

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