User Account

All Pages

Develop a 95 percent confidence interval

Assignment Help Applied Statistics
Reference no: EM13301330

1. Use appropriate descriptive statistics (5-number summary, mean, mode, range and standard deviation) to summarize each of the three variables for the 40 Gulf View condominiums. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to determine if there were or not.

2. Use appropriate descriptive statistics (5-number summary, mean, mode, range and standard deviation) to summarize each of the three variables for the 18 No Gulf View condominiums. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to determine if there were or not.

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

4. Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Interpret your results.

5. Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for No Gulf View condominiums. Interpret your results.

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 for each?

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 (based off of the percent difference for the sale and list price) and number of days required to sell each of these units?

 

 

Reference no: EM13301330

Questions Cloud

How to select a solvent that can be used to recrystallize : how to choose a solvent that can be used to recrystallize a product that is less soluble than the reactant
Explain what is the composition of the boiling liquid : A sample of vapor has the composition 50% A and 50% B. What is the composition of the boiling liquid that produced this vapor
Companies can use to survive and thrive in the marketplace : Product innovation and marketing are the only enduring competitive advantage companies can use to survive and thrive in the marketplace. In the next seven weeks,
Which investment should you choose to receive most interest : Which investment should you choose to receive the most interest? Show your work for calculating the interest for both options.
Develop a 95 percent confidence interval : Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Interpret your results.
What is the expected market price now for this bond : A bond has a 6.0% coupon rate and pays interest SEMI-annually. It has 8 years to maturity. Market interest rates for such a bond are now at 8.0% yield-to-maturity. What's the expected market price now for this bond? (pick closest answer)
Construct an argumentfor or againstthe notion : Construct an argumentfor or againstthe notion that an individual's privacyismore importantthan any otherconsideration like security,childcare etc. in the workplace,Use ethical theory to support your position. Using APA referencing system
Which of the following has the most severe consequences : For a public corporation, which of the following has the most severe consequences?
Explain the conversion of maleic acid to fumaric acid : Just completed the conversion of maleic acid to fumaric acid in the lab using Conc. hcl, heat and recrystallization. question: if the solubilities of the reactant and product were reversed( ie., if product were more soluble) how would one follow t..

Reviews

Write a Review

Applied Statistics Questions & Answers

  Functions of parametric statistical procedures

What would be the appropriate statistical procedure to test the following hypothesis:  "Triglyceride values are a good predictor of weight in obese adults." What are the functions of parametric statistical procedures?

  Estimate carls performance

Estimate Carl's performance on the new machine.

  Data analysis and statistical modeling for business

Data Analysis and Statistical Modeling for Business

  Draw the density function

What are the possible values of this random variable and draw the density function.

  Compute the mean price of the stock

Compute the mean price of the stock, what is the median price and compute the variance and standard deviation

  Calculate the maximum reduction in the standard deviation

Calculate the maximum reduction in the standard deviation

  Filtering and summarizing data

Filtering and Summarizing Data

  Simulation of a poisson and a compound poisson process

Compute the expected time until the 100 th student arrives. What is the probability that the time between the arrival of the 200th and the 201st student exceeds 2 days?

  Create a histogram for iq and include normal distribution

Use Analyze, Descriptive statistics, Frequencies to summarize nonmetric variables, and create a pie-chart for Year in college and create a histogram for IQ and include the normal distribution.

  Strength of chemical in stored barrels

Can the company rely on the fact that the strength of the chemical is identical from batch to batch and from barrel to barrel and what is the mean strength of the chemical in these stored barrels? How prccisc is that estimate?

  Problems based on probability

What is the probability in the sample?

  Which country should import bed linens

Suppose South Korea can produce 100 computer chips with 10 hours of labor input and 50 bed linens with 6 hours of labor input. The US can produce 100 computer chips with 8 hours of labor input and 50 bed linens with 4 hours of labor input.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd