How long do houses for sale remain on the market? One survey reported that, in Sydney, houses
Question:
How long do houses for sale remain on the market? One survey reported that, in Sydney, houses for sale are on the market for an average of 112 days. Of course, the length of time varies by the market.
Suppose random samples of 13 houses in Sydney and 11 houses in Brisbane that are for sale are traced. The data shown here represent the number of days each house was on the market before being sold. Use the given data and a 1% level of significance to determine whether the population variance for the number of days until sold is different in Sydney from that in Brisbane. Assume that the number of days houses for sale are on the market are normally distributed for both cities.
Step by Step Answer:
Business Analytics And Statistics
ISBN: 9780730363330
1st Edition
Authors: Ken Black, John Asafu Adjaye, Paul Burke, Nelson Perera, Carl Sherwood, Saleh A. Wasimi