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

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 1 year ago

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