A Real Estate Broker Is Interested in Determining Whether There

question 119

Essay

A real estate broker is interested in determining whether there is a difference in the mean number of days a home stays on the market before selling based on which area of the city it is located in.However,she is also concerned that the price of the house may be an issue in determining how long it takes to sell a house,so she wants to control for this.To carry out the test,she plans to randomly select one house from each part of the city in each price range.The following data show the number of days for the sample of houses selected. Using a significance level equal to 0.05,determine whether the broker was justified in controlling for house prices.Be sure to indicate what type of statistical test should be used and why.

---

Definitions:

See

To perceive with the eyes; to observe or notice.

Abbreviations

Shortened forms of words or phrases used to conserve space or avoid repetition, commonly found in written communication.

Primary Code

A unique identifier used to specify or distinguish items, conditions, or statuses in a classification or coding system.

Third-Party Payer

An entity (other than the patient or healthcare provider) that pays for healthcare services, often an insurance company.