Gulf Real Estate PropertiesGulf 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 condominium sales by collecting data on location, list price, sale 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 shown in the following table. Gulf View CondominiumsNo Gulf View CondominiumsList PriceSale priceDays to SellList PriceSale PriceDays to Sell49547513021721718237935071148135.533852951985186.5179122552.5534.595239230150552.5534.595239230150334.9334.9119279267.51695505059221521458169.916519727925911021021056179.9176.513097594573149.9144.914931431412623523011431530588199.81921208858002822101956197597510022621214646944556149.9146.51373293054916016028136533048322292.56333231288187.51794852049516124722752425405149 675669142 40940028 64964929 319305140 42541085 359340107 46944972895875129439430160435400206235227916386181006296009732930911459555545339315150215200483953751354494255349946586439428.5158 Managerial Report Compare your summary results from parts (1) and (2). Discuss any specific statistical results that would help a real estate agent understand the condominiumDevelop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View Interpret your results.Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for No Gulf View Interpret your results.

Principles of Information Systems (MindTap Course List)

13th Edition

ISBN:9781305971776

Author:Ralph Stair, George Reynolds

Publisher:Ralph Stair, George Reynolds

Chapter5: Database Systems And Big Data

Section5.4: Big Data

Problem 1CTQ

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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 condominium sales by collecting data on location, list price, sale 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 shown in the following table.

Gulf View Condominiums	No Gulf View Condominiums
List Price	Sale price	Days to Sell	List Price	Sale Price	Days to Sell
495	475	130	217	217	182
379	350	71	148	135.5	338
529	519	85	186.5	179	122
552.5	534.5	95	239	230	150
552.5	534.5	95	239	230	150
334.9	334.9	119	279	267.5	169
550	505	92	215	214	58
169.9	165	197	279	259	110
210	210	56	179.9	176.5	130
975	945	73	149.9	144.9	149
314	314	126	235	230	114
315	305	88	199.8	192	120
885	800	282	210	195	61
975	975	100	226	212	146
469	445	56	149.9	146.5	137
329	305	49	160	160	281
365	330	48	322	292.5	63
332	312	88	187.5	179	48
520	495	161	247	227	52
425	405	149
675	669	142
409	400	28
649	649	29
319	305	140
425	410	85
359	340	107

469	449	72
895	875	129
439	430	160
435	400	206
235	227	91
638	618	100
629	600	97
329	309	114
595	555	45
339	315	150
215	200	48
395	375	135
449	425	53
499	465	86
439	428.5	158

Managerial Report

Compare your summary results from parts (1) and (2). Discuss any specific statistical results that would help a real estate agent understand the condominium
Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View Interpret your results.
Develop a 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for No Gulf View Interpret your results.

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