Quantative Business Analysis

Topics: Sample size, Arithmetic mean, Statistics Pages: 2 (256 words) Published: December 9, 2012
Gulf view condominiums compared to the no-gulf view condominiums allows us to see the pricing differences compared to the selling difference and the days on the market along with the population values of both.

Comparison
The mean sale price of gulf view condominiums is greater than that of non gulf view condominiums. The mean number of days to sell gulf view condominiums is less than that of non gulf view condominiums. The variation in the sale prices of gulf view condominiums are more than that of non gulf view condominiums. The variation in the number of days to sell of gulf view condominiums are more than that of non gulf view condominiums.

Gulf View Condominiums

95% confidence interval for population mean sales price is 45422.50±61570.16 =(392652.34,515792.66) 95% confidence interval for population mean days to sell is 106±16.70 =(89.30,122.70)

No-Gulf View condominiums

95% confidence interval for population mean sales price is 203188.90±21826.84=(181362.05,27289015.73) 95% confidence interval for population mean days to sell is 135±37.94 =(97.06,172.94)

Sample Size

Gulf View Condominiums
Confidence level = 95%
z= 1.96
s=192517.75
E=Z*s/√n = 80000
n = (1.96*192517.75/40000)^2 = 98.99
The minimum sample size is 90

No-Gulf View condominiums
Confidence level = 95%
z= 1.96
s=43891.72
E=Z*s/√n = 74000
n = (1.96*43891.72/15000)^2 = 32.86
The minimum sample size is 67
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