Question: Hello, I need help with this please Attached is the web link sample of homes in Pacific region https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:8aca59d8-157b-46a6-924c-e84359cc9e2a Scenario You have been hired by
Hello, I need help with this please
Attached is the web link sample of homes in Pacific region
https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:8aca59d8-157b-46a6-924c-e84359cc9e2a
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.
- 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.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
