Question 6.36 Valuation of single-tenant properties. Refer to The Appraisal Journal (Summer 2019) study of the valuation of single-tenant properties, Exercise 2.28 (p.61). Recall that the ratio of net operating income to property asset value-called the capitalization rate-was determined for a sample of 13 retail property tenants. Data on S&P credit ratings and 5-year capitalization rates for the 13 tenants are reproduced in the table. The data for this problem is saved in the file named CAPRAT.xlsx. Tenant Best Buy BJ's Warehouse S&P Credit Rating 5-Year Capitalization Rate (%) BBB 8.25 B 7.40 Dollar General BBB- 8.45 Dollar Tree BBB- 7.50 Family Dollar BBB- 8.50 Kohl's BBB- 8.50 Kroger BBB 7.25 Lowe's BBB+ 6.70 Sherwin-Williams BBB 6.75 The Home Depot A 6.75 United Rentals BB 8.15 Walmart AA 6.75 Whole Foods Market AA- 5.50 Source: Sellers, L.P., et al. "Valuation Methods and Dark Big-Box Theories", The Appraisal Journal, Vol. 87, No. 3, Summer 2019 (Exhibit 1). Use Minitab to answer these questions: a. Estimate the mean 5-year capitalization rate of all single-property retail tenants using a 95% confidence interval. Interpret the results. b. Estimate the mean 5-year capitalization rate of all single-property retail tenants with a low (BBB-) S&P rating using a 95% confidence interval. Interpret the results. (Hint: Manually enter a new variable that contains an L for BBB- ratings, an H for A, AA-, or AA ratings, and an M for the others. Then, use Stat>Basic Statistics> Display Descriptive Statistics to calculate the mean and standard deviation for each of the groups. Once you have the summary information, use the 'Summarized data' option in the '1-Sample t...' menu to manually enter the summary statistics.) C. Estimate the mean 5-year capitalization rate of all single-property retail tenants with a high (A, AA-, or AA) S&P rating using a 95% confidence interval. Interpret the results.