A real estate developer wants to estimate if there is a difference in the price per unit for multifamily apartments based on the where the property is located. A random sample of 12 per unit prices for multifamily apartments in one location and a random sample of 14 per unit prices for multifamily apartments in another location are presented in Table 11.16.

a. Is there a significant difference in the median price per unit based on the location?

b. Is there a significant difference in the mean price per unit based on the location?

c. Check any relevant model assumptions for both part \(a\). and part b.

d. Which analysis do you believe is the most appropriate for the data that was collected?

Table 11.16

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Price Per Unit (in Thousands of Dollars) for Multi- family Apartments from Two Different Locations Location A 44 Location B 55 35 50 41 55 38 41 41 41 40 44 47 50 48 36 43 35 45 54 46 36 46 45 48 41