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SNHU Hypothesis Testing for Regional Real Estate Company Case Study
Scenario
You have been hired by the Regional Real Estate Company to help them analyze real estate data. One of the company ...
SNHU Hypothesis Testing for Regional Real Estate Company Case Study
Scenario
You have been hired by the Regional Real Estate Company to help them analyze real estate data. One of the company’s Pacific region salespeople just returned to the office with a newly designed advertisement. It states that the average cost per square foot of his home sales is above the average cost per square foot in the Pacific region. He wants you to make sure he can make that statement before approving the use of the advertisement. The average cost per square foot of his home sales is $275. In order to test his claim, you collect a sample of 1,001 home sales for the Pacific region.
Prompt
Design a hypothesis test and interpret the results using significance level ? = .05.
Use the House Listing Price by Region document to help support your work on this assignment. You may also use the Descriptive Statistics in Excel and Creating Histograms in Excel tutorials for support.
Specifically, you must address the following rubric criteria, using the Module Five Assignment Template.
Setup: Define your population parameter, including hypothesis statements, and specify the appropriate test.
Define your population parameter.
Write the null and alternative hypotheses. Note: Remember, the salesperson believes that his sales are higher.
Specify the name of the test you will use.
Identify whether it is a left-tailed, right-tailed, or two-tailed test.
Identify your significance level.
Data Analysis Preparations: Describe sample summary statistics, provide a histogram and summary, check assumptions, and find the test statistic and significance level.
Provide the descriptive statistics (sample size, mean, median, and standard deviation).
Provide a histogram of your sample.
Describe your sample by writing a sentence describing the shape, center, and spread of your sample.
Determine whether the conditions to perform your identified test have been met.
Calculations: Calculate the p value, describe the p value and test statistic in regard to the normal curve graph, discuss how the p value relates to the significance level, and compare the p value to the significance level to reject or fail to reject the null hypothesis.
Determine the appropriate test statistic, then calculate the test statistic.
Note: This calculation is (mean – target)/standard error. In this case, the mean is your regional mean (Pacific), and the target is 275.
Calculate the p value.
Note: For right-tailed, use the T.DIST.RT function in Excel, left-tailed is the T.DIST function, and two-tailed is the T.DIST.2T function. The degree of freedom is calculated by subtracting 1 from your sample size.
Choose your test from the following:
=T.DIST.RT([test statistic], [degree of freedom])
=T.DIST([test statistic], [degree of freedom], 1)
=T.DIST.2T([test statistic], [degree of freedom])
Using the normal curve graph as a reference, describe where the p value and test statistic would be placed.
Test Decision: Discuss the relationship between the p value and the significance level, including a comparison between the two, and decide to reject or fail to reject the null hypothesis.
Discuss how the p value relates to the significance level.
Compare the p value and significance level, and make a decision to reject or fail to reject the null hypothesis.
Conclusion: Discuss how your test relates to the hypothesis and discuss the statistical significance.
Explain in one paragraph how your test decision relates to your hypothesis and whether your conclusions are statistically significant.
CBA and plane CGH intersect, math homework help
1. Where do plane CBA and plane CGH intersect?a) point cb) CDc) GCd) GH2) What plane contains the points L,Q and N? a)Plan ...
CBA and plane CGH intersect, math homework help
1. Where do plane CBA and plane CGH intersect?a) point cb) CDc) GCd) GH2) What plane contains the points L,Q and N? a)Plane QLN b)Plane KPR C)Plane LKQ d)Plane NPK3) Which of the following is a pair of opposite rays.A) EF AND FEB) FD AND FEC) EF AND EDD) DE AND DF
STA3215 Inferential Statistics and Analytics Excel Spreadsheet
A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from ...
STA3215 Inferential Statistics and Analytics Excel Spreadsheet
A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from $30,000 to $200,000 per year. As a Business Analyst, your boss asks you to research and analyze the salary distributions. You are given a spreadsheet that contains the following information:A listing of the jobs by titleThe salary (in dollars) for each jobYou have previously explained some of the basic statistics to your client already, and he really liked your work. Now he wants you to analyze the confidence intervals.Background information on the DataThe data set in the spreadsheet consists of 364 records that you will be analyzing from the Bureau of Labor Statistics. The data set contains a listing of several jobs titles with yearly salaries ranging from approximately $30,000 to $200,000 for the state of Minnesota.What to SubmitYour boss wants you to submit the spreadsheet with the completed calculations, answers, and analysis.
MATH 2413 Lamar University Elementary Trigonometric Transformations Project
Hi,You are required to complete only one out of 3 projects in the Semester Projects file. Please read the Instructions and ...
MATH 2413 Lamar University Elementary Trigonometric Transformations Project
Hi,You are required to complete only one out of 3 projects in the Semester Projects file. Please read the Instructions and Rubric file before bidding to understand the project instructions.Thanks :)
Mathematical Help needed with rational exponents and complex numbers
*Answers and explanations1. Write as a single power of 2. Carefully show each step of your work.2. ...
Mathematical Help needed with rational exponents and complex numbers
*Answers and explanations1. Write as a single power of 2. Carefully show each step of your work.2. Police departments find it very useful to be able to approximate driving speeds in skidding accidents. If the road surface is wet concrete the function is S(x) = is used, where S(x) is the speed of the car in miles per hour and x is the distance skidded in feet.a. Fill out the table for each of the distances shown below. Round to the nearest whole number:b. Find the distance the car will skid if the speed of the car is 60 miles per hour.Round to two decimal places.3. Complex numbers are used by engineers and physicists to measure electrical circuits. To measure voltage, they use the formula E = I • Z, where E is voltage in volts, I is the current in amps, and Z is impedance, or resistance, in ohms.a. Find the voltage for an electrical circuit if the current is 3 - 4i amps and the impedance is 2 + iohms. Simplify your answer completely. b. Find the Impedance for an electrical circuit if the voltage is 18 - 24i and the current is 6 - 3iamps. Simplify your answer completely.
Week 2 Apply Comparison Shopping Worksheet
Complete the attachment below! Comparison Shopping Background Choose a product or service that you would like to pur ...
Week 2 Apply Comparison Shopping Worksheet
Complete the attachment below! Comparison Shopping Background Choose a product or service that you would like to purchase for your office or yourself: ______________ Search the internet to find three providers who have different prices for the product or service: a. b. c. Product Description Describe in 2 to 4 sentences the product or service you wish to purchase. Indicate the amount of money in dollars that you have budgeted to pay for the product or service: $_________________ Product Comparison Complete the chart below with information from your research. Name of Provider Link to Website Price of Product
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SNHU Hypothesis Testing for Regional Real Estate Company Case Study
Scenario
You have been hired by the Regional Real Estate Company to help them analyze real estate data. One of the company ...
SNHU Hypothesis Testing for Regional Real Estate Company Case Study
Scenario
You have been hired by the Regional Real Estate Company to help them analyze real estate data. One of the company’s Pacific region salespeople just returned to the office with a newly designed advertisement. It states that the average cost per square foot of his home sales is above the average cost per square foot in the Pacific region. He wants you to make sure he can make that statement before approving the use of the advertisement. The average cost per square foot of his home sales is $275. In order to test his claim, you collect a sample of 1,001 home sales for the Pacific region.
Prompt
Design a hypothesis test and interpret the results using significance level ? = .05.
Use the House Listing Price by Region document to help support your work on this assignment. You may also use the Descriptive Statistics in Excel and Creating Histograms in Excel tutorials for support.
Specifically, you must address the following rubric criteria, using the Module Five Assignment Template.
Setup: Define your population parameter, including hypothesis statements, and specify the appropriate test.
Define your population parameter.
Write the null and alternative hypotheses. Note: Remember, the salesperson believes that his sales are higher.
Specify the name of the test you will use.
Identify whether it is a left-tailed, right-tailed, or two-tailed test.
Identify your significance level.
Data Analysis Preparations: Describe sample summary statistics, provide a histogram and summary, check assumptions, and find the test statistic and significance level.
Provide the descriptive statistics (sample size, mean, median, and standard deviation).
Provide a histogram of your sample.
Describe your sample by writing a sentence describing the shape, center, and spread of your sample.
Determine whether the conditions to perform your identified test have been met.
Calculations: Calculate the p value, describe the p value and test statistic in regard to the normal curve graph, discuss how the p value relates to the significance level, and compare the p value to the significance level to reject or fail to reject the null hypothesis.
Determine the appropriate test statistic, then calculate the test statistic.
Note: This calculation is (mean – target)/standard error. In this case, the mean is your regional mean (Pacific), and the target is 275.
Calculate the p value.
Note: For right-tailed, use the T.DIST.RT function in Excel, left-tailed is the T.DIST function, and two-tailed is the T.DIST.2T function. The degree of freedom is calculated by subtracting 1 from your sample size.
Choose your test from the following:
=T.DIST.RT([test statistic], [degree of freedom])
=T.DIST([test statistic], [degree of freedom], 1)
=T.DIST.2T([test statistic], [degree of freedom])
Using the normal curve graph as a reference, describe where the p value and test statistic would be placed.
Test Decision: Discuss the relationship between the p value and the significance level, including a comparison between the two, and decide to reject or fail to reject the null hypothesis.
Discuss how the p value relates to the significance level.
Compare the p value and significance level, and make a decision to reject or fail to reject the null hypothesis.
Conclusion: Discuss how your test relates to the hypothesis and discuss the statistical significance.
Explain in one paragraph how your test decision relates to your hypothesis and whether your conclusions are statistically significant.
CBA and plane CGH intersect, math homework help
1. Where do plane CBA and plane CGH intersect?a) point cb) CDc) GCd) GH2) What plane contains the points L,Q and N? a)Plan ...
CBA and plane CGH intersect, math homework help
1. Where do plane CBA and plane CGH intersect?a) point cb) CDc) GCd) GH2) What plane contains the points L,Q and N? a)Plane QLN b)Plane KPR C)Plane LKQ d)Plane NPK3) Which of the following is a pair of opposite rays.A) EF AND FEB) FD AND FEC) EF AND EDD) DE AND DF
STA3215 Inferential Statistics and Analytics Excel Spreadsheet
A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from ...
STA3215 Inferential Statistics and Analytics Excel Spreadsheet
A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from $30,000 to $200,000 per year. As a Business Analyst, your boss asks you to research and analyze the salary distributions. You are given a spreadsheet that contains the following information:A listing of the jobs by titleThe salary (in dollars) for each jobYou have previously explained some of the basic statistics to your client already, and he really liked your work. Now he wants you to analyze the confidence intervals.Background information on the DataThe data set in the spreadsheet consists of 364 records that you will be analyzing from the Bureau of Labor Statistics. The data set contains a listing of several jobs titles with yearly salaries ranging from approximately $30,000 to $200,000 for the state of Minnesota.What to SubmitYour boss wants you to submit the spreadsheet with the completed calculations, answers, and analysis.
MATH 2413 Lamar University Elementary Trigonometric Transformations Project
Hi,You are required to complete only one out of 3 projects in the Semester Projects file. Please read the Instructions and ...
MATH 2413 Lamar University Elementary Trigonometric Transformations Project
Hi,You are required to complete only one out of 3 projects in the Semester Projects file. Please read the Instructions and Rubric file before bidding to understand the project instructions.Thanks :)
Mathematical Help needed with rational exponents and complex numbers
*Answers and explanations1. Write as a single power of 2. Carefully show each step of your work.2. ...
Mathematical Help needed with rational exponents and complex numbers
*Answers and explanations1. Write as a single power of 2. Carefully show each step of your work.2. Police departments find it very useful to be able to approximate driving speeds in skidding accidents. If the road surface is wet concrete the function is S(x) = is used, where S(x) is the speed of the car in miles per hour and x is the distance skidded in feet.a. Fill out the table for each of the distances shown below. Round to the nearest whole number:b. Find the distance the car will skid if the speed of the car is 60 miles per hour.Round to two decimal places.3. Complex numbers are used by engineers and physicists to measure electrical circuits. To measure voltage, they use the formula E = I • Z, where E is voltage in volts, I is the current in amps, and Z is impedance, or resistance, in ohms.a. Find the voltage for an electrical circuit if the current is 3 - 4i amps and the impedance is 2 + iohms. Simplify your answer completely. b. Find the Impedance for an electrical circuit if the voltage is 18 - 24i and the current is 6 - 3iamps. Simplify your answer completely.
Week 2 Apply Comparison Shopping Worksheet
Complete the attachment below! Comparison Shopping Background Choose a product or service that you would like to pur ...
Week 2 Apply Comparison Shopping Worksheet
Complete the attachment below! Comparison Shopping Background Choose a product or service that you would like to purchase for your office or yourself: ______________ Search the internet to find three providers who have different prices for the product or service: a. b. c. Product Description Describe in 2 to 4 sentences the product or service you wish to purchase. Indicate the amount of money in dollars that you have budgeted to pay for the product or service: $_________________ Product Comparison Complete the chart below with information from your research. Name of Provider Link to Website Price of Product
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