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(-5b+5y+7b-10y)/(8b) = (2b-5y)/(8b)
(2b-5y)/(8b)
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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.
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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.
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Specify the name of the test you will use.
Identify whether it is a left-tailed, right-tailed, or two-tailed test.
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Most Popular Content
Walden University Mathematics Applications of Differentiation Question
Math paper on either application of differentiation or the application of integration with two worked out examples. 500 wo ...
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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.
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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.
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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.
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Determine the appropriate test statistic, then calculate the test statistic.
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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.
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