Case Problem 2 Gulf Real Estate Properties.xlsx

Gulf View Condominiums Count=40 List Price Sale Price Days to SelList Price - Mean Sale Price - Mean Days to Sell - Me

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Gulf View Condominiums

Count=40

List Price Sale Price Days to SelList Price - Mean Sale Price - Mean Days to Sell - Mean List Price - Mean*2 495 475 130 21 20.79 24 441 379 350 71 -95 -104.21 -35 9025 529 519 85 55 64.79 -21 3025 552.5 534.5 95 78.5 80.29 -11 6162.25 334.9 334.9 119 -139.1 -119.31 13 19348.81 550 505 92 76 50.79 -14 5776 169.9 165 197 -304.1 -289.21 91 92476.81 210 210 56 -264 -244.21 -50 69696 975 945 73 501 490.79 -33 251001 314 314 126 -160 -140.21 20 25600 315 305 88 -159 -149.21 -18 25281 885 800 282 411 345.79 176 168921 975 975 100 501 520.79 -6 251001 469 445 56 -5 -9.21 -50 25 329 305 49 -145 -149.21 -57 21025 365 330 48 -109 -124.21 -58 11881 332 312 88 -142 -142.21 -18 20164 520 495 161 46 40.79 55 2116 425 405 149 -49 -49.21 43 2401 675 669 142 201 214.79 36 40401 409 400 28 -65 -54.21 -78 4225 649 649 29 175 194.79 -77 30625 319 305 140 -155 -149.21 34 24025 425 410 85 -49 -44.21 -21 2401 359 340 107 -115 -114.21 1 13225 469 449 72 -5 -5.21 -34 25 895 875 129 421 420.79 23 177241 439 430 160 -35 -24.21 54 1225 435 400 206 -39 -54.21 100 1521 235 227 91 -239 -227.21 -15 57121 638 618 100 164 163.79 -6 26896 629 600 97 155 145.79 -9 24025 329 309 114 -145 -145.21 8 21025 595 555 45 121 100.79 -61 14641 339 315 150 -135 -139.21 44 18225 215 200 48 -259 -254.21 -58 67081 395 375 135 -79 -79.21 29 6241 449 425 53 -25 -29.21 -53 625 499 465 86 25 10.79 -20 625 439 428 158 -35 -26.21 52 1225

Sum List Price Sale Price Days to Sell 18960.30 18168.4 4240 Mean Sale Price - Mean*2 Days to Sell - Mean*2 List Price Sale Price Days to Sell 432.22 576 474.01 454.21 106 10859.72 1225 4197.74 441 6446.48 121 Median 14234.88 169 List Price Sale Price Days to Sell 2579.62 196 437 417.5 96 83642.42 8281 59638.52 2500 240874.82 1089 Variance 19658.84 400 List Price Sale Price Days to Sell 22263.62 324 37950.27 36137.16 2658.35 119570.72 30976 271222.22 36 84.82 2500 Standard Deviation 22263.62 3249 List Price Sale Price Days to Sell 15428.12 3364 194.81 190.10 51.56 20223.68 324 1663.82 3025 2421.62 1849 Coefficient of Variance 46134.74 1296 List Price Sale Price Days to Sell 2938.72 6084 41% 42% 49% 37943.14 5929 22263.62 1156 Q1 1954.52 441 List Price Sale Price Days to Sell 13043.92 1 333.45 314.5 71.5 27.14 1156 177064.22 529 Q3 586.12 2916 List Price Sale Price Days to Sell 2938.72 10000 551.25 526.75 137.5 51624.38 225 26827.16 36 Minimum 21254.72 81 List Price Sale Price Days to Sell 21085.94 64 169.9 165 28 10158.62 3721 19379.42 1936 Maximum 64622.72 3364 List Price Sale Price Days to Sell 6274.22 841 975 975 282 853.22 2809 116.42 400 Range 686.96 2704 List Price Sale Price Days to Sell 805.1 810 254

No Gulf View Condominiums List Price Sale Price Days to SelList Price - Mean Sale Price - Mean Days to Sell - Mean List Price - Mean*2 217 217 182 4.2 13.8 47 17.64 148 135.5 338 -64.8 -67.7 203 4199.04 186.5 179 122 -26.3 -24.2 -13 691.69 239 230 150 26.2 26.8 15 686.44 279 267.5 169 66.2 64.3 34 4382.44 215 214 58 2.2 10.8 -77 4.84 279 259 110 66.2 55.8 -25 4382.44 179.9 176.5 130 -32.9 -26.7 -5 1082.41 149.9 144.9 149 -62.9 -58.3 14 3956.41 235 230 114 22.2 26.8 -21 492.84 199.8 192 120 -13 -11.2 -15 169 210 195 61 -2.8 -8.2 -74 7.84 226 212 146 13.2 8.8 11 174.24 149.9 146.5 137 -62.9 -56.7 2 3956.41 160 160 281 -52.8 -43.2 146 2787.84 322 292.5 63 109.2 89.3 -72 11924.64 187.5 179 48 -25.3 -24.2 -87 640.09 247 227 52 34.2 23.8 -83 1169.64

Count = 18 Sale Price - Mean*2 Days to Sell - Mean*2 190.44 2209 4583.29 41209 585.64 169 718.24 225 4134.49 1156 116.64 5929 3113.64 625 712.89 25 3398.89 196 718.24 441 125.44 225 67.24 5476 77.44 121 3214.89 4 1866.24 21316 7974.49 5184 585.64 7569 566.44 6889

Sum List Price Sale Price Days to Sell 3830.5 3657.4 2430 Mean List Price Sale Price Days to Sell 212.8 203.2 135 Median List Price Sale Price Days to Sell 212.5 203.5 126 Variance List Price Sale Price Days to Sell 2262.55 1819.46 5498.22 Standard Deviation List Price Sale Price Days to Sell 47.57 42.66 74.15 Coefficient of variance List Price Sale Price Days to Sell 22% 21% 55% Q1 List Price Sale Price Days to Sell 179.90 176.50 63.00 Q3 List Price Sale Price Days to Sell 239.00 230.00 150.00 Interquartile Range List Price Sale Price Days to Sell 59.10 53.50 87.00 Minimum List Price Sale Price Days to Sell 148.00 135.50 48.00 Maximum List Price Sale Price Days to Sell 322.00 292.50 338.00

Range List Price Sale Price Days to Sell 174.00 157.00 290.00

Mean List and Sale price of Gulf View Condominiums are more than No Gulf View Condominiums 474.1>212, 454.21>203.2 and average days taken to sell No Gulf View Condominiums is more 1 than Gulf View Condominiums 106174, 810>157 Range of Days to Sell is more in No Gulf View Condominimums 5 compared to Gulf View Condominiums

Sale Price N Mean

40 454.21

SD

190.1

Standard Error 30.05745

95% Confid

454.21+59 Interval estimate for mean value of Sale price 454.21 is between 394.21 - 514.21 Interpretation - we are 95% confident that, the interval estimation between the population mean sales of Gulf View Condonium

Days to Sell N Mean

40 106

SD

51.56

Standard Error 8.152352 135+-

95% Confid

16

Interval estimate for mean value of number of days to sell 106 is between 90 - 122 Interpretation - we are 95% confident that, the interval estimation between the population mean days to sell of Gulf View Con

alpha/2=

1.96

les of Gulf View Condoniums is somewhere between 394.21 to 514.21

alpha/2=

1.96

ays to sell of Gulf View Condoniums is somewhere between 90 - 122

Sales Price N Mean

18 203.2

SD

42.66

Standard Error 10.05506 203.2+-

CI 95%

20.0

Interval estimate for mean value of Sale price 203.2 is between 183.2 - 223.2 Interpretation - we are 95% confident that, the interval estimation between the population mean sales of No Gulf View Condon

Days to Sell N Mean

18 135

SD

74.15

Standard Error

17.48

135+-

34.69

CI 95%

Interval estimate for mean value of number of days to sell 106 is between 100.31 - 169.69 Interpretation - we are 95% confident that, the interval estimation between the population mean days to sell of Gulf View Con

alpha/2

1.985

les of No Gulf View Condoniums is somewhere between 183.2 to 223.2

alpha/2

1.985

ays to sell of Gulf View Condoniums is somewhere between 100.31 to 169.9

Gulf View Mean

454.21

Margin Error

40000

margin error = Standard error * 1.96 40000= 20408 sqrt(n) n= in 1000s Sample size

No Gulf View Mean

203.2

Margin Error

15000

margin error = Standard error * 1.96 15000= 7653 sqrt(n) n= in 1000s Sample Size

1.96 * 190.1/sqrt(n) 190.1/sqrt(n) 0.0093149745 8.67687503045E-05 87

1.96*42.66/sqrt(n) 42.66/sqrt(n) 0.0055742846 3.1072648738E-05 31

Gulf View condominium List Price

589000

Mean List price Mean Sale price Difference

474.01 454.21 19.8

Sales Price lesser 0.041771

Sales Price is .041771 lesser than list price

Sale Price =

Number of days required to sell is mean of days to sell 106 days

No Gulf View Condominium List Price Mean List price Mean Sale price Difference

285000 212.8 203.2 9.6

Sales Price lesser 0.045113

Sales price is .045113 lesser than list price

Number of days required to sell is mean of days to sell 135 days

Sales Price=

564396.7

272142.9