To test whether there is significant difference in the mean income using ANOVA.
A real estate developer is considering investing in a shopping mall on the outskirts of Atlanta, Georgia. Three parcels of land are being evaluated. Of particular importance is the income in the area surrounding the proposed mall? A random sample of four families is selected near each proposed mall. Following are the sample results. At the .05 level of significance, can the developer conclude there is a difference in the mean income?
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Southwyck Area ($000s):
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64
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68
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70
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60
|
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Franklin Park ($000s):
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74
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71
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69
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70
|
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Old Orchard ($000s):
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75
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80
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76
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78
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