Analysis of Variance (ANOVA) and Tukey-Kramer Procedure for Comparing Means

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Analysis of Variance (ANOVA) and Tukey - Kramer Procedure for Comparing Means Homework Assignment #6 Name: __________________________ The next 6 questions re fer to the following scenario. A property manager is interested in exploring the relationship between the price of a residential property and the land value, home value and size value . The apprais er selects a random sample of 30 properties sold in a particular year. What can be said about the relationship between the price and the value predictors at a 5% level of significance ? ANOVA df SS MS F STAT Among Values ? 74569.12 ?? ?? With Values ? ?? 4367.79 Total ?? ?? df SS MS F STAT F critical Decision Among Values 3 74569.12 24856.3733 5.69083526 2.975154 Reject Ho With Values 26 113562.5 4367.79 Total 29 188131.7 1) What is the hypothesis scenario? The hypothesis scenario is to test the relationship between the price of a residential property and the land value, home value and size value. Ho: there is no significant mean difference in values of appraisal predicators. H1: there is significant mean difference in values of appraisal predicators. 2) What are the degrees of freedom for Among Values ? Among Values (Degree of Freedom) Df (A) = k – 1
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