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Is there a difference between the average sale price of Excellent vs. Good apartment buildings? To answer this question, first we need to generate a
Is there a difference between the average sale price of "Excellent" vs. "Good" apartment buildings? To answer this question, first we need to generate a new variable that is the sale price divided by the number of apartments in the building (so that we can compare different sizes of apartment buildings). After doing this, conduct a hypothesis test for the average of this variable, allowing for at most a 1% Type I error, and be sure to clearly state your hypotheses, conclusions, and possible error in plain language.
SalePrice | Apartments | Age | LotSize | ParkSpaces | BldArea | Condition | APTSIZE |
90300 | 4 | 82 | 4365 | 0 | 4266 | F | 21.16737 |
384000 | 20 | 13 | 17798 | 0 | 14391 | G | 26.68334 |
157500 | 5 | 66 | 5913 | 0 | 6615 | G | 23.80952 |
676200 | 26 | 64 | 7750 | 6 | 34144 | E | 19.80436 |
165000 | 5 | 55 | 5150 | 0 | 6120 | G | 26.96078 |
300000 | 10 | 65 | 12506 | 0 | 14552 | G | 20.61572 |
108750 | 4 | 82 | 7160 | 0 | 3040 | G | 35.77303 |
276538 | 11 | 23 | 5120 | 0 | 7881 | G | 35.0892 |
420000 | 20 | 18 | 11745 | 20 | 12600 | G | 33.33333 |
950000 | 62 | 71 | 21000 | 3 | 39448 | G | 24.08234 |
560000 | 26 | 74 | 11221 | 0 | 30000 | G | 18.66667 |
268000 | 13 | 56 | 7818 | 13 | 8088 | F | 33.13551 |
290000 | 9 | 76 | 4900 | 0 | 11315 | E | 25.6297 |
173200 | 6 | 21 | 5424 | 6 | 4461 | G | 38.82538 |
323650 | 11 | 24 | 11834 | 8 | 9000 | G | 35.96111 |
162500 | 5 | 19 | 5246 | 5 | 3828 | G | 42.45037 |
353500 | 20 | 62 | 11223 | 2 | 13680 | F | 25.84064 |
134400 | 4 | 70 | 5834 | 0 | 4680 | E | 28.71795 |
187000 | 8 | 19 | 9075 | 0 | 7392 | G | 25.29762 |
155700 | 4 | 57 | 5280 | 0 | 6030 | E | 25.8209 |
93600 | 4 | 82 | 6864 | 0 | 3840 | F | 24.375 |
110000 | 4 | 50 | 4510 | 0 | 3092 | G | 35.57568 |
573200 | 14 | 10 | 11192 | 0 | 23704 | E | 24.18157 |
79300 | 4 | 82 | 7425 | 0 | 3876 | F | 20.45924 |
272000 | 5 | 82 | 7500 | 0 | 9542 | E | 28.50555 |
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