The following table shows the selling price of a random sample of residential homes, in thousands of

Question:

The following table shows the selling price of a random sample of residential homes, in thousands of dollars,

at three beach communities in New Jersey. The homes are categorized by the real estate firm that is listing the home. These data can also be found in the Excel file beach.xlsx.
Real Estate Firm Avalon ($)
Stone Harbor ($)
Sea Isle City ($)
Prudential 550 700 500 Re/Max 625 840 500 Diller 775 1,070 620 Fox 900 1,350 1,100 Century 21 1,500 1,600 800

a. Using a = 0.05 and the real estate firm as a blocking factor, test to see if a difference exists in the average selling prices of homes in the three communities.

b. If warranted, determine which pairs of communities are different using a = 0.05.

c. Verify your results with Excel or PHStat.

d. Was the blocking factor effective? Why or why not?AppendixLO1

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Related Book For  book-img-for-question

Business Statistics

ISBN: 9780133852288

2nd Edition

Authors: Robert A Donnelly, Robert Donnelly Jr

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