Table 1.0: List Price, Sale Price and Days to Sell ApartmentsBlue Apartments Red ApartmentsList Price Sale Price Days to Sell List Price Sale Price Days to Sell1 495.0 475.0 130 217.0 217.0 1822 379.0 350.0 71 148.0 135.5 3383 529.0 519.0 85 186.5 179.0 1224 552.5 534.5 95 239.0 230.0 1505 334.9 334.9 119 279.0 267.5 1696 550.0 505.0 92 215.0 214.0 587 169.9 165.0 197 279.0 259.0 1108 210.0 210.0 56 179.9 176.5 1309 975.0 945.0 73 149.9 144.9 14910 314.0 314.0 126 235.0 230.0 11411 315.0 305.0 88 199.8 179.0 12012 885.0 800.0 282 210.0 192.0 6113 975.0 975.0 100 226.0 195.0 14614 329.0 445.0 56 149.9 212.0 13715 365.0 305.0 49 160.0 146.5 28116 332.0 330.0 48 322.0 160.0 6317 520.0 312.0 88 187.5 292.5 4818 425.0 495.0 161 247.0 179.0 5219 675.0 405.0 14920 409.0 669.0 14221 649.0 400.0 2822 319.0 649.0 2923 425.0 305.0 14024 359.0 410.0 8525 469.0 340.0 10726 895.0 449.0 7227 439.0 875.0 12928 435.0 430.0 16029 235.0 400.0 20630 638.0 227.0 9131 629.0 618.0 10032 329.0 600.0 9733 595.0 309.0 11434 339.0 555.0 4535 215.0 315.0 15036 395.0 200.0 4837 449.0 375.0 13538 499.0 425.0 5339 439.0 465.0 8640 469.0 428.5 158REQUIRED:1. Use appropriate descriptive statistics to summarize each of the three variables for the 40 BLUEApartments. (2 marks)2. Use appropriate descriptive statistics to summarize each of the three variables for the 18 REDApartments (2 Marks)3. Compare your summary results. Discuss any specific statistical results that would help a real estateagent understand the apartment market in Kenya. (4 Marks)4. Develop a 95% confidence interval estimate of the population mean sales price and populationmean number of days to sell for BLUE Apartments. Interpret your results. (2 Marks)5. Develop a 95% confidence interval estimate of the population mean sales price and populationmean number of days to sell for RED Apartments. Interpret your results. (2 marks)6. Assume the branch manager requested estimates of the mean selling price of BLUE Apartmentswith a margin of error of Ksh. 40,000 and the mean selling price of RED Apartments with a marginof error of Ksh. 15,000. Using 95% confidence, how large should the sample sizes be? (4 Marks)7. Cyton Real Estate Properties just signed contracts for two new listings: a BLUE Apartment with alist price of Ksh. 589,000 and a RED Apartment with a list price of Ksh.285,000. What is yourestimate of the final selling price and number of days required to sell each of these units?(4 Marks

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To solve these questions lets tackle them one by one starting from calculating descriptive statistics to estimating confidence intervals and required sample sizes The questions will be solved using ba... View the full answer