Arithmetic Mean and Gulf View Essay
Gulf Real Estate Properties, Inc., is a real estate firm located in southwest Florida. The company, which advertises itself as “expert in the real estate market,” monitors condominium sales by collecting data on location, list price, sale price, and number of days it takes to sell each unit. Each condominium is classified as Gulf View if it is located directly on the Gulf of Mexico or No Gulf View if it is located on the bay or a golf course, near but not on the Gulf. Sample data from the Multiple Listing Service in Naples, Florida, provided recent sales data for 40 Gulf View condominiums and 18 No Gulf View condominiums. Prices are in thousands of dollars.
Those analyses are below:
Descriptive Statistics …show more content…
Based on the data the Gulf View condominium are selling a higher average sales price than the Non Gulf View condominium and also the average days of sale list price is 106 days, which is 29 days shorter than the Non Gulf View.
The data for the Non Gulf View illustrates that the minimum and maximum listed price is substantial higher than the price sales