Instruction 11-3
a Realtor Wants to Compare the Average Sales-To-Appraisal

question 54

Multiple Choice

Instruction 11-3
A realtor wants to compare the average sales-to-appraisal ratios of residential properties sold in four neighbourhoods (A,B,C,and D) .Four properties are randomly selected from each neighbourhood 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 summarised in the following table:
$\begin{array}{llclcl}\text { Source } & \text { df } & \text { SS } & \text { MS } & \text { F } & \text { PR }>\text { F } \\\hline \text { Neighbourhoods } && 3.1819 & 1.0606 & 10.76 & 0.001 \\\text { Error } & 12 & & & &\\total&&4.3644\end{array}$
-Referring to Instruction 11-3,what should be the conclusion for the Levene's test for homogeneity of variances at a 5% level of significance?

• A)There is not sufficient evidence that the variances are not all the same.
• B)There is not sufficient evidence that the variances are all the same.
• C)There is sufficient evidence that the variances are not all the same.
• D)There is sufficient evidence that the variances are all the same.

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Definitions:

C Corporation

A business structure where the company is taxed separately from its owners, offering limited liability protection to its shareholders.

Legally Liable

The state of being legally responsible for something, typically involving a financial or other obligation.

Sole Proprietorship

A business structure where a single individual owns, manages, and is responsible for all aspects of the business.

Business Owner

An individual who legally possesses a company, bearing both the risks and benefits associated with the enterprise.