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

question 239

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 value of the test statistic for Levene's test for homogeneity of variances is

• A)0.25
• B)0.37
• C)4.36
• D)10.76

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Definitions:

Sales

The activity or business of selling goods or services, generating revenue for companies.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use rather than selling those resources.

Explicit Costs

Direct, out-of-pocket payments for resources employed by firms for production, such as wages or rent.

Accounting Profit

The net income a company reports on the financial statements, calculated by subtracting total expenses from total revenues.