TABLE 11-2 a Realtor Wants to Compare the Mean Sales-To-Appraisal Ratios of Ratios

question 29

Multiple Choice

TABLE 11-2
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.
A: 1.2, 1.1, 0.9, 0.4 C: 1.0, 1.5, 1.1, 1.3
B: 2.5, 2.1, 1.9, 1.6 D: 0.8, 1.3, 1.1, 0.7
Interpret the results of the analysis summarized in the following table:
Source df SS MS F PR > F
Neighborhoods 3.1819 1.0606 10.76 0.001
Error 12
Total 4.3644
-Referring to Table 11-2, the within group mean squares is

• A) 0.0985.
• B) 0.2910.
• C) 1.0606.
• D) 1.1825.

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Definitions:

Assembly Division

A department or area within a manufacturing firm that is responsible for assembling the components of a product into a finished good.

Prorated

The allocation or division of amounts or costs proportionally according to a specific rate, size, or timeframe.

WIP

An acronym for Work In Progress, which refers to the materials and products that are in the process of being manufactured but are not yet complete.

Underapplied Overhead

A situation where the estimated overhead expenses are lower than the actual costs incurred, creating a variance in financial reporting.