3. Develop a 95% confidence interval estimate of the populationmean sales price and population mean number of days to sell forGulf View condominiums. Interpret your results.4. Develop a 95% confidence interval estimate of the populationmean sales price and population mean number of days to sell forNo Gulf View condominiums. Interpret your results.5. Assume the branch manager requested estimates of the meanselling price of Gulf View condominiums with a margin oferror of $40,000 and the mean selling price of No Gulf Viewcondominiums with a margin of error of $15,000. Using 95%confidence, how large should the sample sizes be?6. Gulf Real Estate Properties just signed contracts for two newlistings: a Gulf View condominium with a list price of $589,000and a No Gulf View condominium with a list price of$285,000. What is your estimate of the final selling price (basedon the percent difference for the sale and list price) and numberof days required to sell each of these units? Gulf Real Estate Properties, Inc., is a real estate firm located insouthwest Florida. The company, which advertises itself as"expert in the real estate market," monitors condominium salesby collecting data on location, list price, sale price, and numberof days it takes to sell each unit.Each condominium is classified as Gulf View if it is locateddirectly on the Gulf of Mexico or No Gulf View if it is located onthe bay or a golf course, near but not on the Gulf. Sample datafrom the Multiple Listing Service in Naples, Florida, providedrecent sales data for 40 Gulf View condominiums and 18 NoGulf View condominiums. Prices are in thousands of dollars.The data are shown in the following table.Gulf View Condominiums No Gulf View CondominiumsList Price Sale price Days to Sell List Price Sale Price Days to Sell49547513021721718237935071148135.533852951985122552.5 534.5 95150552.5 534.595334.9 334.9550505169.9 165210945314305800210*10975314315885975469חרר3293653325204256756734096493194253590975445305330312495405669400649305410340469 449 72895 875 129439 430 160435 400 206235 227 91Gulf Real EstateProperties638 618 100629 600 97329 309 114595 555 45339 315 150215 200 48395 375 135449 425 53499 465 86439 428.5 158Aœbær ±¤ ¤ § × • • * § fixafeb186.5239239279279215215279213179.9149.9235199.8210226149,9160322179230230267.5214259233176.5144.9230192195212146.5160292.5187.5 17924722715016958************11052Managerial Report1. Use appropriate descriptive statistics (5-number summary,mean, mode, range, and standard deviation) and charts to

Question

3. Develop a 95% confidence interval estimate of the populationmean sales price and population mean number of days to sell forGulf View condominiums. Interpret your results.4. Develop a 95% confidence interval estimate of the populationmean sales price and population mean number of days to sell forNo Gulf View condominiums. Interpret your results.5. Assume the branch manager requested estimates of the meanselling price of Gulf View condominiums with a margin oferror of $40,000 and the mean selling price of No Gulf Viewcondominiums with a margin of error of $15,000. Using 95%confidence, how large should the sample sizes be?6. Gulf Real Estate Properties just signed contracts for two newlistings: a Gulf View condominium with a list price of $589,000and a No Gulf View condominium with a list price of$285,000. What is your estimate of the final selling price (basedon the percent difference for the sale and list price) and numberof days required to sell each of these units? Gulf Real Estate Properties, Inc., is a real estate firm located insouthwest Florida. The company, which advertises itself as&#34;expert in the real estate market,&#34; monitors condominium salesby collecting data on location, list price, sale price, and numberof days it takes to sell each unit.Each condominium is classified as Gulf View if it is locateddirectly on the Gulf of Mexico or No Gulf View if it is located onthe bay or a golf course, near but not on the Gulf. Sample datafrom the Multiple Listing Service in Naples, Florida, providedrecent sales data for 40 Gulf View condominiums and 18 NoGulf View condominiums. Prices are in thousands of dollars.The data are shown in the following table.Gulf View Condominiums No Gulf View CondominiumsList Price Sale price Days to Sell List Price Sale Price Days to Sell49547513021721718237935071148135.533852951985122552.5 534.5 95150552.5 534.595334.9 334.9550505169.9 165210945314305800210*10975314315885975469חרר3293653325204256756734096493194253590975445305330312495405669400649305410340469 449 72895 875 129439 430 160435 400 206235 227 91Gulf Real EstateProperties638 618 100629 600 97329 309 114595 555 45339 315 150215 200 48395 375 135449 425 53499 465 86439 428.5 158Aœbær ±¤ ¤ § × • • * § fixafeb186.5239239279279215215279213179.9149.9235199.8210226149,9160322179230230267.5214259233176.5144.9230192195212146.5160292.5187.5 17924722715016958************11052Managerial Report1. Use appropriate descriptive statistics (5-number summary,mean, mode, range, and standard deviation) and charts to

Accepted Answer

Gulf View CondominiumsNo Gulf View CondominiumsList priceSale priceDays to sellList priceSale…