Estimation and Hypothesis TestsBased on the instructions now posted in your data set, you will construct a Confidence Interval for one of your quantitative variables and conduct a hypothesis test for the other quantitative variable.For the Confidence Interval:1. Report the interval.2. Interpret the confidence interval in terms of the specific variable.For the Hypothesis Test:1. State the null and alternative hypotheses in the context of the specific variable. 2. Report the t test statistic and its meaning.3. Report the p-value and its meaning.4. Draw your conclusion. Include the comparison of the p-value to the level of significance, whether you reject or fail to reject the null hypothesis, whether the results are statistically significant or not, and your concluding statement in the context of the specific variable. FilterSelectFKFinal Project Part 3Farmland DataAssorted farmland available for purchase from 2013-2018.CI: Construct a 95% confidence interval for theaverage Size of Land available for purchase from2013-2018 in Illinois.Variables:State: U.S. stateTEST: The average Price per Acre of farmland inCalifornia,is $10,000. Do the data indicate that this isdifferent than the Price per Acre in Illinois?Size of Land in Acres: The amount of land availablePrice per Acre in Dollars: The total price of the farmland divided bythe number of acresDate: Month and year that the farmland was available for purchase StateSize of Land in AcresPrice per Acre in Dollars13500DateAugust 2013August 2013Illinois152Illinois33910738Illinois2617600November 2013Illinois33813250December 2013Illinois36210737December 2013Illinois7315000Winter 2014Illinois54212786Winter 2014February 2014February 2014February 2014Illinois592750Illinois143111750Illinois8010750Illinois54212786March 2014Illinois7512100March 2014April 2014May 2014May 2014Illinois7315000Illinois1669009Illinois96014583IllinoisIllinois17613920June 201415535280June 2014July 2014August 2014August 2014Illinois14412900Illinois54013127Illinois8712700Illinois13427086October 2014Illinois1329030October 2014Illinois806400November 2014Illinois7655483December 2014Illinois1168534Winter 2015Illinois29410935February 2015Illinois4026281March 2015Illinois1568250June 2015Illinois819000July 2015Illinois8010400December 2015Illinois33411482Winter 2016Illinois55610775April 2016Illinois15601984June 2016Illinois2179700August 2016September 2016September 2016Illinois15310255Illinois1609000Illinois7510400October 2016Illinois23611100October 2016Illinois4010800November 2016Illinois978750November 2016Illinois2179700December 2016Illinois1609000December 2016February 2017February 2017Illinois86386403Illinois6102925Illinois3077053March 2017Illinois10638982March 2017April 2017April 2017August 2017September 2017Illinois19510097Illinois1618500Illinois11679443Illinois11679426Illinois3208100October 2017Illinois12311745December 2017Illinois15510516February 2018

Name: Estimation and Hypothesis TestsBased on the instructions now posted in
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Description: Estimation and Hypothesis TestsBased on the instructions now posted in your data set, you will construct a Confidence Interval for one of your quantitative variables and conduct a hypothesis test for the other quantitative variable.For the Confidence

Obtain the mean and standard deviation for the size of land in acres for the state Illinois: The…

Answered: Estimation and Hypothesis Tests Based…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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Estimation and Hypothesis Tests Based on the instructions now posted in your data set, you will construct a Confidence Interval for one of your quantitative variables and conduct a hypothesis test for the other quantitative variable. For the Confidence Interval: 1. Report the interval. 2. Interpret the confidence interval in terms of the specific variable. For the Hypothesis Test: 1. State the null and alternative hypotheses in the context of the specific variable. 2. Report the t test statistic and its meaning. 3. Report the p-value and its meaning. 4. Draw your conclusion. Include the comparison of the p-value to the level of significance, whether you reject or fail to reject the null hypothesis, whether the results are statistically significant or not, and your concluding statement in the context of the specific variable.

Filter
Select
F
K
Final Project Part 3
Farmland Data
Assorted farmland available for purchase from 2013-2018.
CI: Construct a 95% confidence interval for the
average Size of Land available for purchase from
2013-2018 in Illinois.
Variables:
State: U.S. state
TEST: The average Price per Acre of farmland in
California,is $10,000. Do the data indicate that this is
different than the Price per Acre in Illinois?
Size of Land in Acres: The amount of land available
Price per Acre in Dollars: The total price of the farmland divided by
the number of acres
Date: Month and year that the farmland was available for purchase

State
Size of Land in Acres
Price per Acre in Dollars
13500
Date
August 2013
August 2013
Illinois
152
Illinois
339
10738
Illinois
261
7600
November 2013
Illinois
338
13250
December 2013
Illinois
362
10737
December 2013
Illinois
73
15000
Winter 2014
Illinois
542
12786
Winter 2014
February 2014
February 2014
February 2014
Illinois
59
2750
Illinois
1431
11750
Illinois
80
10750
Illinois
542
12786
March 2014
Illinois
75
12100
March 2014
April 2014
May 2014
May 2014
Illinois
73
15000
Illinois
166
9009
Illinois
960
14583
Illinois
Illinois
176
13920
June 2014
1553
5280
June 2014
July 2014
August 2014
August 2014
Illinois
144
12900
Illinois
540
13127
Illinois
87
12700
Illinois
1342
7086
October 2014
Illinois
132
9030
October 2014
Illinois
80
6400
November 2014
Illinois
765
5483
December 2014
Illinois
116
8534
Winter 2015
Illinois
294
10935
February 2015
Illinois
402
6281
March 2015
Illinois
156
8250
June 2015
Illinois
81
9000
July 2015
Illinois
80
10400
December 2015
Illinois
334
11482
Winter 2016
Illinois
556
10775
April 2016
Illinois
1560
1984
June 2016
Illinois
217
9700
August 2016
September 2016
September 2016
Illinois
153
10255
Illinois
160
9000
Illinois
75
10400
October 2016
Illinois
236
11100
October 2016
Illinois
40
10800
November 2016
Illinois
97
8750
November 2016
Illinois
217
9700
December 2016
Illinois
160
9000
December 2016
February 2017
February 2017
Illinois
8638
6403
Illinois
610
2925
Illinois
307
7053
March 2017
Illinois
1063
8982
March 2017
April 2017
April 2017
August 2017
September 2017
Illinois
195
10097
Illinois
161
8500
Illinois
1167
9443
Illinois
1167
9426
Illinois
320
8100
October 2017
Illinois
123
11745
December 2017
Illinois
155
10516
February 2018

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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