Question
https://docs.google.com/spreadsheets/d/1nIxpUB-epALXAET_7ZMQrjdh-whq4-l623TdQ_KJN8c/edit?usp=sharing For this problem, use the data file STAT4610Projecdt3ResidentialData2009. This file contains data on 75% of the homes sold in Colorado in 2009 (Sales2009 tab)
https://docs.google.com/spreadsheets/d/1nIxpUB-epALXAET_7ZMQrjdh-whq4-l623TdQ_KJN8c/edit?usp=sharing
For this problem, use the data file STAT4610Projecdt3ResidentialData2009. This file contains data on 75% of the homes sold in Colorado in 2009 (Sales2009 tab) and data on the listing real estate agents for those homes (Listing Broker Data tab). We are interested in investigating the differences in the "Big 5" Realtor Associations in Colorado (identified under the "Board" field):
Aurora Association of Realtors
Boulder County
Denver Metro Association of Realtors (Not Denver Metro Comm)
Douglas/Elbert Realtor Association
South Metro Denver Realtor Association
The data we are interested in is "Close Price," i.e., the actual price the homes sold for.
Unfortunately, the Sales tab does not have the Realtor Association included, so the two files must be merged through a common key.(Fortunately, there is one!) The List Agent MLSID is a unique identifier for the listing agents, and it is included with the Sales data.
By filtering out the close price data by Association and answer the following questions.
a. What are the average closing prices for each Association in 2009.
b. Are any of the averages different from the rest? (Justify your answer with an appropriate test and a p-value.)
c. Is there a difference between Boulder and South Metro? (Justify your answer with an appropriate test and a p-value.)
d. Is there a difference between Aurora and Douglas/Elbert? (Justify your answer with an appropriate test and a p-value.)
e. Is there a difference between South Metro and Denver Metro? (Justify your answer with an appropriate test and a p-value.)
f. Is there a difference between Boulder and Douglas/Elbert? (Justify your answer with an appropriate test and a p-value.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started