Question
GulfRealEstateProperties Gulf Real Estate Properties, Inc., is a real estate firm located in southwest Florida.The company, which advertises itself as expert in the real estate
GulfRealEstateProperties
Gulf Real Estate Properties, Inc., is a real estate firm located in southwest Florida.The company, which advertises itself as "expert in the real estate market," monitorscondominium sales by collecting data on location, list price, sale price, and numberof days it takes to sell each unit. Each condominium is classified as Gulf View if it islocateddirectlyontheGulfofMexicoofNoGulfViewifitislocatedonthebayorgolfcourse, near by not on the Gulf. Sample data from the Multiple Listing Service inNaples, Florida, provided recent sales data for 40 Gulf View condominiums and 18NoGulfViewcondominiums. Pricesareinthousandsof dollars.
1.Develop a 98% confidence interval estimate of the population mean sales price and population mean
number of days to sell for Gulf View condominiums. Interpret your results.
2. Develop a 98% 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.
Table.
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