Question

In: Statistics and Probability

Use appropriate descriptive statistics to summarize each of the two variables for the 40 Gulf View...

  1. Use appropriate descriptive statistics to summarize each of the two variables for the 40 Gulf View condominiums, and each of the two variables for the 18 No Gulf View condominiums. What are the means and standard deviations of the four variables? . Compare your summary results. Discuss any specific statistical results that would help a real estate agent understand the condominium market. In particular, what are the percent discounts between the average list and sale price for Gulf View and No Gulf View condominiums?
    Gulf View Condominiums No Gulf View Condominiums
    List Price Sale Price List Price Sale Price
    495.0 475.0 227.0 227.0
    379.0 350.0 158.0 145.5
    529.0 519.0 196.5 189.0
    552.5 534.5 249.0 240.0
    334.9 334.9 289.0 277.5
    550.0 505.0 225.0 224.0
    169.9 165.0 289.0 269.0
    210.0 210.0 189.9 186.5
    975.0 945.0 159.9 154.9
    314.0 314.0 245.0 240.0
    315.0 305.0 209.8 202.0
    885.0 800.0 220.0 205.0
    975.0 975.0 236.0 222.0
    469.0 445.0 159.9 156.5
    329.0 305.0 170.0 170.0
    365.0 330.0 332.0 302.5
    332.0 312.0 197.5 189.0
    520.0 495.0 257.0 237.0
    425.0 405.0
    675.0 669.0
    409.0 400.0
    649.0 649.0
    319.0 305.0
    425.0 410.0
    359.0 340.0
    469.0 449.0
    895.0 875.0
    439.0 430.0
    435.0 400.0
    235.0 227.0
    638.0 618.0
    629.0 600.0
    329.0 309.0
    595.0 555.0
    339.0 315.0
    215.0 200.0
    395.0 375.0
    449.0 425.0
    499.0 465.0
    439.0 428.5

Solutions

Expert Solution

using excel data analyisi tool for descriptive study,

Gulf View Condominiums

 No Gulf View Condominiums
List Price Sale Price List Price Sale Price
Mean 474.0075 Mean 454.2225 Mean 222.8055556 Mean 213.1888889
Standard Error 31.19429258 Standard Error 30.43972954 Standard Error 11.53651342 Standard Error 10.34537846
Median 437 Median 417.5 Median 222.5 Median 213.5
Mode 975 Mode 305 Mode 289 Mode 189
Standard Deviation 197.2900291 Standard Deviation 192.5177534 Standard Deviation 48.94528124 Standard Deviation 43.89172358
Sample Variance 38923.35558 Sample Variance 37063.08538 Sample Variance 2395.640556 Sample Variance 1926.483399
Kurtosis 1.011328907 Kurtosis 1.183621479 Kurtosis -0.08523964 Kurtosis -0.464068271
Skewness 1.095814639 Skewness 1.159387914 Skewness 0.543955061 Skewness 0.30418061
Range 805.1 Range 810 Range 174 Range 157
Minimum 169.9 Minimum 165 Minimum 158 Minimum 145.5
Maximum 975 Maximum 975 Maximum 332 Maximum 302.5
Sum 18960.3 Sum 18168.9 Sum 4010.5 Sum 3837.4
Count 40 Count 40 Count 18 Count 18

comparisons:

The mean sale price of gulf view condominiums is greater than that of non gulf view condominiums.

The mean list price of gulf view condominiums is greater 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 list prices of gulf view condominiums are more than that of non gulf view condominiums

.

-----------------

percent discounts between the average list and sale price for Gulf View -

discount% = (mean list price -sale price)/list price*100=0.0417*100=4.1740%

percent discounts between the average list and sale price for no Gulf View -

discount% = (mean list price -sale price)/list price*100=0.043*100 = 4.3162%

orchestra answered 2 years ago
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