True rental and homeowner vacancy rates

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Reference no: EM13966132

Table gives rental and homeowner vacancy rates by U.S. region (source: U.S. Census Bureau) for 5 years.

Table
Rental units	1995	1996	1997	1998	1999
Northeast	7.2	7.4	6.7	6.7	6.3
Midwest	7.2	7.9	8.0	7.9	8.6
South	8.3	8.6	9.1	9.6	10.3
West	7.5	7.2	6.6	6.7	6.2

Test at the 0.01 level whether the true rental and homeowner vacancy rates by area are the same for all 5 years. Interpret your results and state any assumptions that were necessary to perform the analysis.

Reference no: EM13966132

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