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

question 203

Multiple Choice

SCENARIO 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:
-Referring to Scenario 11-2,

• A)at the 0.05 level of significance,the mean ratios for the 4 neighborhoods are not all the same.
• B)at the 0.01 level of significance,the mean ratios for the 4 neighborhoods are all the same.
• C)at the 0.10 level of significance,the mean ratios for the 4 neighborhoods are not significantly different.
• D)at the 0.05 level of significance,the mean ratios for the 4 neighborhoods are not significantly different from 0.

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Definitions:

Moral Standards

Principles governing what individuals believe to be right or wrong conduct.

Instinctual Drives

Fundamental, innate impulses that compel individuals to act or behave in certain ways, such as hunger or reproduction.

Ego

In Sigmund Freud’s theory, the structure that begins to develop in response to the fact that instinctual demands of the id are not always immediately met. The ego develops to curb the desires of id so that the individual does not suffer any unpleasant consequences.

Reality Principle

A psychoanalytic concept involving the ability of the mind to assess the external world and act upon it accordingly, often in contrast to the pleasure principle.