Is average lot prices in the four cities are equal

Reference no: EM131381216

A real estate development firm wants to test whether there are differences in the average price of a lot of a given size in the center of each of four cities:

Philadelphia, New York, Washington, and Baltimore. Random samples of 52 lots in Philadelphia, 38 lots in New York, 43 lots in Washington, and 47 lots in Baltimore lead to a computed test statistic value of 12.53.

Do you believe that average lot prices in the four cities are equal? How confident are you of your conclusion? Explain.

Reference no: EM131381216

Questions Cloud

Physician group it plans back into alignment : If you were the CEO, what steps would you take to bring the hospital and physician group IT plans back into alignment? Should the EHR effort proceed or wait until the CPOE initiative is complete? Should you require that both systems come from th..

Is there are differences in average output : Do you believe that there are differences in average output among the five plants? What is the approximate p-value? Explain.

Specific example of how hr functions : Provide a specific example of how HR functions (such as recruiting, selection, interviewing, compensating, appraising, and so on) contributed to one of the participants coming across as particularly successful to Mr. Trump. Can you provide example..

Create a sample from which you could gather data : Name one other variable that might help you with developing a solution to the problem or realizing opportunity. How would you create a sample from which you could gather data? What is sample bias? How could you eliminate it?

Is average lot prices in the four cities are equal : A real estate development firm wants to test whether there are differences in the average price of a lot of a given size in the center of each of four cities:- Do you believe that average lot prices in the four cities are equal? How confident are y..

Stating the price for the dolls : "Please be advised that I accept your offer dated May 1. However, I would appreciate delivery of 25 dolls by May 20, and the remaining 25 dolls delivered by June15, if possible. Sally sends a reply to the fax stating the price for the dolls are no..

Find the components of f in directions : The force F lies in a plane parallel to the xy plane but the firing pin has a three-dimensional orientation as shown. Determine the components of F in directions parallel and perpendicular to the firing pin.

Organic flour from a local farmer : A baker uses organic flour from a local farmer in all of his baked goods. For each batch of bread (x1), he uses 4 lbs. For a batch of cookies (x2), he uses 3 pounds, and for a batch of muffins (x3) he uses 2 pounds. The local farmer can supply him..

What is the main principle behind analysis of variance : Define treatment and error.- Explain the sum-of-squares principle.- What is the main principle behind analysis of variance?

User Account

All Pages