Question: Advertising is critical in the residential real estate industry Agents
Advertising is critical in the residential real estate industry. Agents are always seeking ways to increase sales through improved advertising methods. A particular agent believes that he can increase the number of inquiries (and thus the probability of making a sale) by describing the house for sale without indicating its asking price. To support his belief, he conducted an experiment in which 100 houses for sale were advertised in two ways—with and without the asking price. The number of inquiries for each house was recorded as well as whether the customer saw the ad with or without the asking price shown. Do these data allow the real estate agent to infer that ads with no price shown are more effective in generating interest in a house?
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