I need assistance with a statistics writing assignment about mean, median and standard deviations

Dec 14th, 2015
Steve1995
Category:
Accounting
Price: $50 USD

Question description

1. Calculate the mean, median, and standard deviation for both the population and sample median home prices.


2. Construct a 95% Confidence Interval for the population mean of median home prices.


3. Conduct a hypothesis test to determine if the sample and population means are the same. Clearly state the logic of your test, the calculations, and the conclusion of your test.



4a. Are either or both the median home prices for homes in Maine and New Hampshire within the 95% confidence interval of the population mean? Clearly show and state your conclusion.
And



4b. If you conclude that median home prices in one or both Maine and New Hampshire are outside the confidence interval will you be able to buy a median home price if your new salary makes a $199,000 home within your budget?

median_home_values.docx

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