Case Study Gulf Real Estate
95% confidence level
Margin of error: $40,000 E= 40
Sample size n = 40
Sample Mean (x bar) = 454.2225
Sample Standard deviation (S) = 192.5177
Confidence level (%) = 95%
Alpha = 0.05
Degrees of freedom (n-1) = 39
Z value (0.975) = 1.96
N = 88.98 = 89
95% confidence level
Margin of error: $15,000 E= 15
Sample size n = 18
Sample Mean (x bar) = 203.1888
Sample Standard deviation (S) = 43.8917
Confidence level (%) = 95%
Alpha = 0.05
Degrees of freedom (n-1) = 17
Z value (0.975) = 1.96
N = 32.89 = 33
A gulf view condo sells on average 4.2% below its list price
The estimated selling price is $589,000 x0.958 = $564,262. Using the mean days it is estimated to sell in 106 days
A no gulf view condo sells on average 4.5% below its list price
The estimated selling price is $285,000 x0.955 = $272,175. Using the mean days it is estimated to sell in 135 days
Margin of error: $40,000 E= 40
Sample size n = 40
Sample Mean (x bar) = 454.2225
Sample Standard deviation (S) = 192.5177
Confidence level (%) = 95%
Alpha = 0.05
Degrees of freedom (n-1) = 39
Z value (0.975) = 1.96
N = 88.98 = 89
95% confidence level
Margin of error: $15,000 E= 15
Sample size n = 18
Sample Mean (x bar) = 203.1888
Sample Standard deviation (S) = 43.8917
Confidence level (%) = 95%
Alpha = 0.05
Degrees of freedom (n-1) = 17
Z value (0.975) = 1.96
N = 32.89 = 33
A gulf view condo sells on average 4.2% below its list price
The estimated selling price is $589,000 x0.958 = $564,262. Using the mean days it is estimated to sell in 106 days
A no gulf view condo sells on average 4.5% below its list price
The estimated selling price is $285,000 x0.955 = $272,175. Using the mean days it is estimated to sell in 135 days