Question: 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.

Assume the branch manager requested estimates of the mean selling price of Gulf View condominiums with a margin of error of $40,000 and the mean selling price of No Gulf View condominiums with a margin of error of $15,000. Using 95% confidence, how large should the sample sizes be?

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