TABLE 11-3
a Realtor Wants to Compare the Average $\quad 1.2,1.1,0.9,0.4 \quad$

question 129

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.
A: $\quad 1.2,1.1,0.9,0.4 \quad$ C: $\quad 1.0,1.5,1.1,1.3$
B: $\quad 2.5,2.1,1.9,1.6 \quad$ D: $\quad 0.8,1.3,1.1,0.7$
Interpret the results of the analysis summarized in the following table:
$\begin{array}{llllll}\text { Source } & \text { df } & \text { SS } & \text { MS } & \text { F } & \text { PR }>\text { F } \\\text { Neighborhoods } & & 3.1819 & 1.0606 & 10.76 & 0.001 & & \\\text { Error } & 12 & & & & \\\text { Total } & & 4.3644 & & &\end{array}$

-Referring to Table 11-3, the within group sum of squares is

• A) 3.1819.
• B) 1.0606.
• C) 1.1825.
• D) 4.3644.

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Definitions:

Firm

A business organization, such as a corporation, partnership, or sole proprietorship, that sells goods or services for profit.

Factor Market

The marketplace where services of the factors of production (notably land, labor, capital) are bought and sold.

Resources Exchanged

The process through which different types of resources, including goods, services, information, and money, are traded or swapped among individuals, businesses, or countries.

Input Markets

Markets where firms buy resources, goods, and services that they need in order to produce outputs that will be sold in output markets.