Determining variation in selling prices of home

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Q1) Real estate agent in coastal area of Georgia wishes to compare variation in selling price of homes on oceanfront with those one to three blocks from ocean. Sample of 21 oceanfront homes sold within last year revealed standard deviation of selling prices was= $45,600. A sample of 18 homes, also sold within last year, that were one to three blocks from ocean revealed that standard deviation was= $21,330. At.01 significance level, can we conclude that there is more variation in selling prices of oceanfront homes?

Reference no: EM1313744

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