SCENARIO 10-2
a Realtor Wants to Compare the Mean Sales-To-Appraisal $\mathrm{A}: 1.2,1.1,0.9,0.4$

question 248

Multiple Choice

SCENARIO 10-2
A realtor wants to compare the mean 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. $\mathrm{A}: 1.2,1.1,0.9,0.4$$\quad C: 1.0,1.5,1.1,1.3$
B: $2.5,2.1,1.9,1.6$$\quad \mathrm{D}: 0.8,1.3,1.1,0.7$
Interpret the results of the analysis summarized in the following table:
$\begin{array}{lcclcc}\hline \text { Source } & \text { df } & \text { SS } & \text { MS } & \text { F } & \text { PR }>\text { F } \\\hline \text { Neighborhoods } & & 3.1819 & 1.0606 & 10.76 & 0.001 \\\text { Error } & 12 & & & & \\\text { Total } & & 4.3644 & & &\end{array}$
-Referring to SCENARIO 10-2, the null hypothesis for Levene's test for homogeneity of variances is

• A)\(H _ { 0 } : \mu _ { A } = \mu _ { B } = \mu _ { C } = \mu _ { D }\)
• B)\(H _ { 0 } : M _ { A } = M _ { B } = M _ { C } = M _ { D }\)
• C)\(H _ { 0 } : \sigma _ { A } ^ { 2 } = \sigma _ { B } ^ { 2 } = \sigma _ { C } ^ { 2 } = \sigma _ { D } ^ { 2 }\)
• D)\(H _ { 0 } : \pi _ { A } = \pi _ { B } = \pi _ { C } = \pi _ { D }\)

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Definitions:

Fordism

An economic model based on mass production and consumption, characterized by standardized products, high wages, and assembly line manufacturing.

Assembly Line

A manufacturing process in which parts are added to a product in a sequential manner to create a finished product more efficiently.

Mass Manufacturing

The large-scale production of goods using machinery and assembly lines, which typically results in high volumes of standardized products.

Production Stability

The consistency and reliability of manufacturing or production processes over time, minimizing fluctuations and disruptions to ensure continuous output.