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8 Exercise 13-41 Static 3.33 First National Bank employs three real estate appraisers whose job is to establish a property's market value before the bank offers a points mortgage to a prospective buyer. It is imperative that each appraiser values a property with no bias. Suppose First National Bank wishes to check the consistency of the recent values that its appraisers have established. The bank asked the three appraisers to value (in $1,000s) three different types of homes: a cape, a colonial, and a ranch. The accompanying table shows the results. Assume that values are normally distributed. (You may find it useful to reference the q table. Appraiser_1 Appraiser_2 Appraiser_] Cape 415 Colonial 530 550 540 Ranch 390 400 380 picture Click here for the Excel Data File a-1. Construct an ANOVA table. (Leave no cells blank. Round "SS" and "MS" to 2 decimal places, and "F' and "p-value" to 3 decimal places.) Answer is complete and correct. ANOVA Source of Variation af MS p-value Rows 37,222.22 20 18,611.11 167.500 0.000 Columns 72.22 20 36.11 0.325 D.740 Error 444.44 40 111.110 Total 37,738.88 a-2. At the 5% significance level, can you conclude that the average values differ by appraiser? O Yes, since the p-value associated with appraiser is less than significance level. O Yes, since the p-value associated with appraiser is greater than significance level. O No, since the p-value associated with appraiser is less than significance level. No, since the p-value associated with appraiser is greater than significance level. a-3. Should the bank be concerned with appraiser inconsistencies? O Yes O No O b. At the 5% significance level, can you conclude that the average values differ by house type? Yes, since the p-value associated with house type is less than significance level. O Yes, since the p-value associated with house type is greater than significance level. O No, since the p-value associated with house type is less than significance level. O No, since the p-value associated with house type is greater than significance level. c. If average values differ by house type, use Tukey's HSD method at the 5% significance level to determine which averages differ. (If the exact value for a, - c is not found in the table, use the average of corresponding upper & lower studentized range values. Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) * Answer is complete but not entirely correct. Population Does the Confidence Interval Average Differences Differ? HI - H2 BB.00 142.00 1 Yes 48.67 6 5.34 0 Yes H2 - H. -163.67. -109.66 1 Yes06 X V fx A B C D E F G H K M N O Appraiser_1 Appraiser_2 Appraiser_3 N Cape Cod 425 415 430 423.3333 Colonial 530 550 540 540 Anova: Two-Factor Without Replication Ranch 390 400 380 390 5 SUMMARY Count Sum Average Variance 6 Cape Cod 3 1270 423.3333 58.33333 7 Colonial W 1620 540 100 8 Ranch W 1170 390 100 9 10 Appraiser_: W 1345 448.3333 5308.333 11 Appraiser_ W 1365 455 6825 12 Appraiser 3 1350 450 6700 13 14 15 ANOVA 16 Source of Variat SS df MS F P-value F crit 17 Rows 37222.22 2 18611.11 167.5 0.000139 6.944272 18 Columns 72.22222 2 36.11111 0.325 0.73997 6.944272 19 Error 444.4444 4 111.1111 20 21 Total 37738.89 8 22 23 24 25 26 27