Discuss an example where you would use a test of hypothesis with three or more population means (that can be analyzed using ANOVA technique) at your employment or personal life.
Many real estate companies and rental agencies now publish their listings on the Web. One example is the Dunes Realty Company, located in Garden City Beach, South Carolina. Go to their Website, http://www.dunes.com, select Beach Homes Search, then indicate minimum of 5 bedrooms, minimum occupancy for 14 people, none of the amenities, "Rental Amount" up to $4,500 per week, uncheck "View all Properties", check "Check Availability for my Arrival Date" pick an "Arrival" date and "Length of stay" of 1 week. Get three sets of output by checking Ocean Front, Second Row or Walk to the Beach one at a time and clicking on Search the Beach Homes. Each output should include details on the homes that met your criteria.
At the .05 significance level, is there a difference in the mean rental prices for the different locations? Please use Excel's Data Analysis option to perform the analysis.
Can you tell which pairs of means differ?
ANOVA real life problems. The solution contain Null Hypothesis, Alternative Hypothesis, Significance Level, Critical Value, P value, R Square, Test Statistic. Detailed interpretations are also given.