A real estate agent in Northern Ontario wants to compare the variation in the selling price of

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A real estate agent in Northern Ontario wants to compare the variation in the selling price of homes on waterfronts with those one to three blocks from the water. A sample of 21 waterfront homes sold within the last year revealed the standard deviation of the selling prices was $45 600. A sample of 18 homes, also sold within the last year, that were one to three blocks from the water, revealed that the standard deviation was $21 330. At the 0.01 significance level, can we conclude that there is more variation in the selling prices of the waterfront homes?

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Basic Statistics For Business & Economics

ISBN: 9781259268939

6th Canadian Edition

Authors: Douglas A. Lind, William G Marchal, Samuel A. Wathen, Carol Ann Waite

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