A realtor wants to compare the average sales-to-appraisal ratios of residential properties sold in four neighborhoods (A, B, C, and D). Four properties are randomly selected from each neighborhood 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 summarized in the following table:
Source df SS MS F PR F
Neighborhoods 3.1819 1.0606 10.76 0.001
a) What is the within group sum of squares for this analysis? Explain how you obtain your answer.
b) What is the within group mean squares for this analysis? Explain how you obtain your answer.
c) At the 0.05 level of significance, is there evidence of a difference in the mean ratios for the 4 neighborhoods? Explain how you obtain your answer.
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