Gulf Real Estate Properties

Gulf Real Estate Properties, Inc., is a real estate firm located in Southwest Florida. The company, which advertises itself as “expert in the real estate market,” monitors condominiums sales by collecting data on location, list price, and number of days it takes to sell each unit. Each condominium is classified as Gulf View if it is located directly on the Gulf of Mexico or No Gulf View if it is located on the bay or a golf course near but not on the Gulf. Sample data from the multiple listing service in Naples, Florida, provided recent sales data for 40 Gulf View condominiums and 18 No Gulf View condominiums. * Prices are in thousands of dollars. The data are in the attachment.

1. Use appropriate descriptive statistics to summarize each of the three variables for the 40 Gulf View condominiums

2. Use appropriate descriptive statistics to summarize each of the three variables for the 18 No Gulf View condominiums

3. Compare your summary results. Discuss any specific statistical results that would help a real estate agent understand the condominiums market

4. Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Interpret your results.

5. Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for No Gulf View condominiums. Interpret your results.

Price: $28.95

Solution: The downloadable solution consists of 7 pages, and 1103 words
Deliverable: Word Document and pdf