Mean price per acre for vineyard land

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Reference no: EM132883014

Suppose that a random sample of n = 5 was selected from the vineyard properties for sale in Sonoma County, California, in each of three years. The following data are consistent with summary information on price per acre for disease-resistant grape vineyards in Sonoma County.

In Excel, carry out an ANOVA to determine whether there is evidence to support the claim that the mean price per acre for vineyard land in Sonoma County was not the same for each of the three years considered. Test at the 0.05 level and at the 0.01 level.

1996: 30000 34000 36000 38000 40000

1997: 30000 35000 37000 38000 40000

1998: 40000 41000 43000 44000 50000

Reference no: EM132883014

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