Gulf real estate properties inc is a real estate firm...

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. Complete the following tasks using the file entitled GulfProp download which contains the responses to these questions above: Introduction: Describe the motivation for this research. In other words, why would it be important to analyze this topic of research? Develop an appropriate graph that summarizes the data set and discuss any insights the graph reveals about the data. You may want to report more that one graph to fully describe the data set. Perform the following calculations: Use appropriate descriptive statistics to summarize condominium sales (For both Gulf View and No Gulf View). Develop a 99% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums.

Transcript

00:01 Problem and so you're getting given a set of data and you have to um create a frequency a history distribution table you have to create a histogram you have to create a frequency polygon and you have to create a cumulative frequency polygon which is just like an oh give okay um so i'm just going to make this a little bit bigger and just so that you can see it a little bit better.

00:59 Sorry about that.

01:01 Okay.

01:06 There we go.

01:08 And then i'm going to explain this.

01:10 So what i did was i took all the values and i'm just going to move them so that it's easier in excel if they are one on top of another because then what i can do is i can then take that data.

01:26 And i can put it from least to greatest, so that way i can make my histogram.

01:32 Oops.

01:34 So, or i can make my frequency table.

01:40 Okay.

01:41 So i have 49 numbers.

01:47 And then what i'm going to do is i'm going to put them in order from least to greatest.

01:54 And the lowest number, so i'm going to create my class width.

02:01 My lowest number is 67.

02:03 Thousand nine hundred and my highest number is three hundred twenty one thousand so if i do classes of fifty thousand so i would start at fifty thousand two three to nine nine thousand and then i go a hundred thousand and then that goes to a hundred forty nine thousand and then i go to actually this has to be all nine 9 -9 -9 -9 and 999 and then 150 ,000 to 199 ,000, 999 ,000, 200 ,000 to 249 ,999 ,999, and then 250 ,000, and then 250 ,000 to 299 ,000.

03:21 And then 300 ,000 to 349 ,000.

03:28 Oops, this should be a three.

03:34 All right.

03:36 And so that'll take care of all of the numbers.

03:40 Then i'm gonna have a frequency.

03:42 And then i'm going to have a relative frequency and a cumulative frequency.

03:53 Okay.

03:54 I also have to do a midpoint.

03:57 So i'm gonna put that midpoint right over here.

03:59 Here okay um i'm also going to box these off bold these center them and i'm going to wrap that one wrap that one make this one bigger okay so going from 50 000 to 9 to almost to almost 100 000 um is going to be the these numbers and i like to highlight them and i'm gonna box them off so that's 16 and i'm going to put all these i'm gonna center all these ones okay then 100 ,000 to 150 ,000 so that's one two three four five six seven eight nine ten eleven twelve thirteen fourteen fifteen sixteen seventeen eighteen so it's eighteen then a hundred fifty thousand to almost 200 ,000.

05:13 So highlight those, box those off.

05:16 So that's one, two, three, four, five, six, seven, eight, nine, ten, eleven.

05:26 Then 200 ,000 to almost 250 ,000.

05:34 So that is three.

05:38 And then three.

05:43 Then there's nothing going from 250 ,000.

05:46 To 299 ,99 .99.

05:50 And 300 ,000 to 349 ,999 is one.

05:57 Then the midpoint.

05:59 So you're taking, you're finding the middle number between these two numbers, okay, divided by two.

06:14 So, actually, so then i'm going to take, i'm just going to copy these...