A realtor wishes to assess whether a difference exists between home prices in three subdivisions. Independent samples of homes from each of the three subdivisions are obtained and their prices are recorded. The analysis of variance results for comparing these prices are provided below: Source Sum of squares DF Mean square F
Groups 157.44 2 78.72 4.66
Error 253.50 15 16.90
Total 410.94 17
A) How many homes were sampled in total?
B) Under the null hypothesis of equality of population means, what is the appropriate assumption for the distribution for home prices in the three populations?
C) Under the null hypothesis of equality of population means, what is the appropriate distribution for the test statistic?
D) What is the value of the estimate of the common population standard deviation of the populations of home prices in the three subdivisions?
E) Give the hypotheses, the test statistic, and the P-Value of the tests and interpret the results in context.