Gulf Real Estate Properties, Inc. is a real estate firm located in southwest Florida. The company, which advertises itself as an expert in the real estate market, monitors condominium sales by collecting data on location, list price, sale price, and the number of days it takes to sell each unit. Each condominium is classified as Gulf View if it is located directly on the Gulf of Mexico, or No Gulf View if it is located on the bay or a golf course (near but not on the Gulf). Sample data from the Multiple Listing Service in Naples, Florida, provided sales data for 40 Gulf View condominiums and 18 No Gulf View condominiums. Descriptive statistics (mean, median, range, and standard deviation) to summarize each of the three variables for the 40 Gulf View condominiums. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to make your determination. Descriptive statistics (mean, median, range, and standard deviation) to summarize each of the three variables for the 18 No Gulf View condominiums. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to make your determination. Compare your summary results from #1 and #2. Discuss any specific statistical results that would help a real estate agent understand the condominium market. Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Interpret your results. Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for No Gulf View condominiums. Interpret your results. ONLY NEED THESE TWO ANSWERED 1) Assume the branch manager requested estimates of the mean selling price of Gulf View condominiums with a margin of error of $40,000 and the mean selling price of No Gulf View condominiums with a margin of error of $15,000. Using 95% confidence, how large should the sample sizes be for each? 2) Gulf Real Estate Properties just signed contracts for two new listings: a Gulf View condominium with a list price of $589,000 and a No Gulf View condominium with a list price of $285,000. What is your estimate of the final selling price (based on the percent difference for the sale and list price) and number of days required to sell each of these units?

Gulf View Condominiums			No Gulf View Condominiums
List Price	Sale Price	Days to Sell	List Price	Sale Price	Days to Sell
384	355.2	41	168	161.3	341
591	587.5	122	240	223.4	197
634	587.7	110	266	250.8	46
583	541	35	230	220.1	61
975	959.4	133	230	229.3	178
965	945.7	292	162	158.4	110
738	682.7	120	268	253.8	234
617	575.7	250	237	229.4	193
960	918.7	188	181	175.9	260
690	661.7	83	272	270.4	346
654	615.4	164	261	252.6	156
498	496.5	187	234	230	311
594	549.5	181	152	142.3	34
936	900.4	33	281	277.3	85
767	714.1	178	190	177.3	72
343	336.5	60	218	209.1	108
995	942.3	147	135	131.4	237
486	483.1	184	249	232.3	263
340	318.9	179
239	235.9	216
561	539.1	19
347	339.4	224
784	762	74
488	465.1	245
441	420.7	96
269	263.4	266
912	858.2	224
939	875.1	48
582	541.8	181
185	181.1	151
767	731	254
414	383	138
240	223.9	207
650	626	166
622	587.8	17
196	184.4	215
244	227.7	233
953	944.4	179
715	690.7	161
841	781.3	295