Since 2008 Airbnb has been popular among hosts and travelers due to unique travelling possibilities it offers.
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Question:
Since 2008 Airbnb has been popular among hosts and travelers due to unique travelling possibilities it offers. A marketing researcher is interested in understanding average price per night for a private room for neighborhoods around New York city.
He collected data on the rental price per night for 45 private room rentals in 5 neighborhoods around New York city (Manhattan, Bronx, Brookline, Queens, and Staten Island).
He then used a one-way ANOVA model to test whether the mean rental price per night for a private room around New York city (NYC) depends on the neighborhood.
The incomplete ANOVA table is given below.
Factor Information Factor Levels Values neighborhood 5 Bronx, Brooklyn, Manhattan, Queens, Staten Island Analysis of Variance Source DF Adj SS Adj MS F-Value P-Value neighborhood 69367 0.000 Error Total 70524 Model Summary S R-sq R-sq(adj) R-sq(pred) 5.37904 98.36% 98.19% 97.92%Grouping Information Using the Tukey Method and 95% Confidence neighborhood N Mean Grouping Manhattan 9 198.03 A Brooklyn 9 125.89 B Staten Island 9 114.92 C Queens 9 99.41 D Bronx 9 84.78 E Means that do not share a letter are significantly different
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