MAT 240 Module Five Assignment

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School

Southern New Hampshire University *

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Course

240

Subject

Economics

Date

Jan 9, 2024

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docx

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3

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Hypothesis Testing for Regional Real Estate Company 1 Hypothesis Testing for Regional Real Estate Company Amiee Sizemore Southern New Hampshire University
Hypothesis Testing for Regional Real Estate Company 2 Introduction The Regional Real Estate Company has recruited me to assist with their analysis of real estate data. Based on recent marketing data, the average cost per square foot of sold homes is $280. According to the client, the Pacific area has an average cost per square foot of less than $280 and would like confirmation of this before beginning the stages of advertising. Hypothesis Test Setup To begin analyzing the proper data, I used Excel's "=rand()" function to create 75 random houses out of the 750 provided and then utilized the Data tab's sorting options to randomly rearrange each row. I used the first 75 rows that were generated in order to gather the final data. Null hypothesis: The average cost per sqft in pacific region is equal to 280 Alternative hypothesis: The average cost per sqft in pacific region is not equal to 280 I will be using a right-tailed test to determine whether or not the null hypothesis can be rejected by analyzing the p-values. Data Analysis Preparations Skewed right, median
Hypothesis Testing for Regional Real Estate Company 3 Calculations Test Decision Using a right-tailed test, the results show that the null hypothesis will not be rejected because the p-value (0.999999975) is greater than level of significance (.05). We can now conclude that average cost per sqft in pacific region is equal to $280. Conclusion In conclusion, we have determined that the Pacific region is equal to $280, based on the tests that were completed. The p-value in the right tailed test determined that it was greater than the level of significance, which shows us that the null hypothesis cannot be rejected. I would recommend the use of advertisements for real estate in the pacific region.
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