TABLE 11-3 a Realtor Wants to Compare the Average Sales-To-Appraisal Ratios of Ratios

question 116

Multiple Choice

TABLE 11-3
A realtor wants to compare the average sales-to-appraisal ratios of residential properties sold in four neighborhoods (A, B, C, and D) . Four properties are randomly selected from each neighborhood and the ratios recorded for each, as shown below.
Interpret the results of the analysis summarized in the following table:
A) 3.
B) 4.
C) 12.
D) 16.
Answer:
A
Diff: 1
-Referring to Table 11-3, the p-value of the test statistic for Levene's test for homogeneity of variances is

• A) 0.25
• B) 0.64
• C) 0.86
• D) 3.49

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Definitions:

Horizontal Privity

A legal term referring to the relationship between parties with coordinating interests in a property, often in lease agreements.

Vertical Privity

A legal concept relating to the chain of ownership or rights that exist in contracts, specifically in property law and warranties, where obligations are passed down.

Privity Of Contract

A doctrine which states that contracts are binding only upon the parties who enter into them, and only these parties have the right to sue to enforce their terms.

Magnuson-Moss Warranty Act

A federal law in the United States that governs warranties on consumer products, aiming to protect consumers from deceptive warranty practices.