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Gulf Real Estate PropertiesFernando González
Ricardo Siller
Tania Elizabeth
Santiestéban Treviño
Descriptive Statistics (Gulf View Condominiums)
List Price: Gulf View
Sample Size 40
Minimum $169,900
Maximum $975,000
Range $805,100
Median $437,000
Mean $474,007.50
St. Dev. $197,290.03
Sales Price: Gulf View
Sample Size 40
Minimum $165,000
Maximum $975,000
Range $810,000
Median $417,500
Mean $454,222.50
St. Dev. $192,517.75
Days to Sell: Gulf View
Sample Size 40
Minimum 28
Maximum 282
Range 254
Median 96
Mean 106.00
St. Dev. 52.22
Descriptive Statistics (No Gulf View Condominiums)
List Price: No Gulf View
Sample Size 18
Minimum $148,000
Maximum $322,000
Range $174,000
Median $212,500
Mean $212,805.56
St. Dev. $48,945.28
Sales Price: No Gulf View
Sample Size 18
Minimum $135,500
Maximum $292,500
Range $157,000
Median $203,500
Mean $203,188.89
St. Dev. $43,891.72
Days to Sell: No Gulf View
Sample Size 18
Minimum 48
Maximum 338
Range 290
Median 126
Mean 135.00
St. Dev. 76.30
Comparison of the Descriptive Statistics (1/2)
List price:
The Gulf View condos have a higher average listing price than No Gulf View Condos ($474,007.50 vs. $212,805.56).
The Gulf View condos also have a higher median listing price than No Gulf View Condos ($437,000 vs. $212,500).
The data for the Gulf View condos are more variable than the data for the No Gulf View condos (larger range and standard deviation).
Comparison of the Descriptive Statistics (2/2)
Sales Price:
The Gulf View condos have a higher average sales price than No Gulf View Condos ($454,222.50 vs. $203,188.89).
The Gulf View condos also have a higher median sales price than No Gulf View Condos ($417,500 vs. $203,500).
The data for the Gulf View condos are more variable than the data for the No Gulf View condos (larger range and standard deviation).
Conclusions: The Gulf View condos seem to be in higher demand than the No Gulf View condos as evidenced by their higher prices and shorter time to sell.
Confidence Interval. Sales Price (Gulf View Condominiums)
Data:
Sample Size (n) 40
Sample Mean (X-bar) 454.2225
Sample Standard Deviation (S)
192.5177
Confidence level (%) 95%
Alpha (α) 0.05
Degrees of freedom (n-1)
39
Z value (0.9750) 1.96
Interval (Large-Sample, s unknown)
Conclusion: With a 95% confidence we can expect that population mean of sales price (gulf view condominium) is within this range
x zsn
/2
Interval
(392.65, 515.79)
Confidence Interval. Days to sell (Gulf View Condominiums)
Data:
Sample Size (n) 40
Sample Mean (X-bar) 106
Sample Standard Deviation (S)
52.2160
Confidence level (%) 95%
Alpha (α) 0.05
Degrees of freedom (n-1)
39
Z value (0.9750) 1.96
Interval (Large-Sample, s unknown)
Conclusion: With a 95% confidence we can expect that population mean of days to sell (gulf view condominium) is within this range
x zsn
/2
Interval
(89.30, 122.70)
Confidence Interval. Sales Price (No Gulf View Condominiums)
Data:
Interval (Small-Sample, s unknown)
Population is normally distributed and s unknown
Conclusion: With a 95% confidence we can expect that population mean of sales price ( no gulf view condominium) is within this range
Sample Size (n) 18
Sample Mean (X-bar) 203.1888
Sample Standard Deviation (S)
43.8917
Confidence level (%) 95%
Alpha (α) 0.05
Degrees of freedom (n-1)
17
T-value (0.025, 17) 2.110
n
stx 2/
Interval
(181.36, 225.02)
Confidence Interval. Days to sell (No Gulf View Condominium)
Data:
Sample Size (n) 18
Sample Mean (X-bar) 135
Sample Standard Deviation (S)
76.2997
Confidence level (%) 95%
Alpha (α) 0.05
Degrees of freedom (n-1)
17
T-value (0.025, 17) 2.110
Interval (Small-Sample, s unknown)
Population is normally distributed and s unknown
Conclusion: With a 95% confidence we can expect that population mean of days to sell ( no gulf view condominium) is within this range.
n
stx 2/
Interval
(97.06, 172.94)
Sample size. Sales Price (Gulf View
Condominiums)
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 (α) 0.05
Degrees of freedom (n-1)
39
Z value(0.975) 1.96
E zn
/2
nz
E( )/ 2
2 2
2
n size
88.98 = 89
Sample size. Sales Price (No Gulf View Condominiums)
95% confidence level
Margin of error: $15,000. E=15
nz
E( )/ 2
2 2
2
Sample Size (n) 18
Sample Mean (X-bar) 203.1888
Sample Standard Deviation (S)
43.8917
Confidence level (%) 95%
Alpha (α) 0.05
Degrees of freedom (n-1)
17
Z value(0.975) 1.96
E zn
/2
n size
32.89 = 33
Estimation New Gulf View Condominium
A Gulf View condominium sells on average 4.2% below its list price.
The estimated selling price is $589,000 x .958 = $564,262. Using the mean days, it is estimated to sell in about 106 days.
Estimation New No Gulf View Condominium
A No Gulf View condominium sells on average 4.5% below its list price.
The estimated selling price is $285,000 x .955 = $272,175. Using the mean days, it is estimated to sell in about 135 days.
And That’s it! Thank you
