Standard Deviation and Gulf View Condominiums

Case 2: Gulf Real Estate Properties. Please provide a Managerial Report that includes: 1. Appropriate descriptive statistics to summarize each of the three variables for the forty Gulf View condominiums 2. Appropriate descriptive statistics to summarize each of the three variables for the eighteen No-Gulf View condominiums 3. Comparison of your summary results from #1 & #2. Discuss any specific statistical results that would help a real estate agent understand the condominium market. 4. A 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Also, interpret the results. 5. A 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Also, interpret the results. Also, consider the following scenario and include your responses in your Report: 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 effort of $15,000. Using 95% confidence, how large should the sample sizes be?

GULF VIEW CONDOMINIUMS

List Price Sales Price Days to Sell

495000 475000 130

379000 350000 71

529000 519000 85

552500 534500 95

334900 334900 119

550000 505000 92

169900 165000 197

210000 210000 56

975000 945000 73

314000 314000 126

315000 305000 88

885000 800000 282

975000 975000 100

469000 445000 56

329000 305000 49

365000 330000 48

332000 312000 88

520000 495000 161

425000 405000 149

675000 669000 142

409000 400000 28

649000 649000 29

319000 305000 140

425000 410000 85

359000 340000 107

469000 449000 72

895000 875000 129

439000 430000 160

435000 400000 206

235000 227000 91

638000 618000 100

629000 600000 97

329000 309000 114

595000 555000