Comparing variation in selling price


A real estate agent in coastal area of Georgia wants to compare the variation in selling price of homes on oceanfront with those one to three blocks from the ocean. A sample of 21 oceanfront homes sold in the last year revealed the standard deviation of selling prices was $45,600. A sample of 18 homes, also sold in the last year, that were one to three blocks from ocean revealed that the standard deviation was $21,330. At the .01 significance level, can we conclude that there is more variation in the selling prices of the oceanfront homes?

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Basic Statistics: Comparing variation in selling price
Reference No:- TGS017613

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