Is it okay if I ask for a step-by-step for a question with multiple parts? I don't want the answers, just a guide on how to solve it myself. I especially need help with margins of error, confidence intervals, and how to do the Excel steps because I have a lot of trouble with those. If it's not okay, I'll delete the question. The assignment is in the photos and so are the National Statistics. Here is the chart for the assignment: Summary StatisticsnМeanMedianStd. Dev.MinQ1Q3МаxListing1,000342,365318,000125,914135,300265,250381,600987,600price ($)Cost per1,0001691664171139191344squarefoot ($)Square1,0002,1111,8819211,1011,6262,2156,516feet 4:42ScenarioYou have been hired by your regional realestate company to determine if your region'shousing prices and housing square footage aresignificantly different from those of thenational market. The regional sales directorhas three questions that they want to seeaddressed in the report:1. Are housing prices in your regionalmarket lower than the national marketaverage?2. Is the square footage for homes in yourregion different than the average squarefootage for homes in the nationalmarket?3. For your region, what is the range ofvalues for the 95% confidence interval ofsquare footage for homes in yourmarket?You are given a real estate data set that hashouses listed for every county in the UnitedStates. In addition, you have been givennational statistics and graphs that show thenational averages for housing prices andsquare footage. Your job is to analyze the data,complete the statistical analyses, and providea report to the regional sales director. You willdo so by completing the Project Two Templatelocated in the What to Submit area below.DirectionsIntroduction1. Region: Start by picking one region fromthe following list of regions:West South Central, West North Central,East South Central, East North Central,Mid Atlantic2. Purpose: What was the purpose of youranalysis, and what is your approach?a. Define a random sample and twohypotheses (means) to analyze.3. Sample: Define your sample. Take arandom sample of 500 observations foryour region.a. Describe what is included in yoursample (i.e., states, region, years ormonths).4. Questions and type of test: For yourselected sample, define two hypothesisquestions and the appropriate type oftest hypothesis for each. Address thefollowing for each hypothesis:a. Describe the population parameterfor the variable you are analyzing.b. Describe your hypothesis in yourown words.c. Describe the inference test you willuse.i. Identify the test statistic.5. Level of confidence: Discuss how youwill use estimation and confidenceintervals to help you solve the problem.1-Tail Test1. Hypothesis: Define your hypothesis.a. Define the population parameter.b. Write null (Ho) and alternative (Ha)hypotheses.c. Specify your significance level.2. Data analysis: Analyze the data andconfirm assumptions have not beenviolated to complete this hypothesis test.a. Summarize your sample data usingappropriate graphical displays andsummary statistics.i. Provide at least one histogramof your sample data.ii. In a table, provide summarystatistics including sample size,mean, median, and standarddeviation.iii. Summarize your sample data,describing the center, spread,and shape in comparison tothe national information.b. Check the conditions.i. Determine if the normalcondition has been met.ji. Determine if there are anyother conditions that youshould check and whether theyhave been met.3. Hypothesis test calculations: Completehypothesis test calculations, providingthe appropriate statistics and graphs.a. Calculate the hypothesis statistics.i. Determine the appropriate teststatistic (†).ii. Calculate the probability (pvalue).4. Interpretation: Interpret your hypothesistest results using the p value method toreject or not reject the null hypothesis.a. Relate the p value and significancelevel.b. Make the correct decision (reject orfail to reject).c. Provide a conclusion in the contextof your hypothesis.2-Tail Testa. Hypotheses: Define your hypothesis.1. Define the population parameter.2. Write null and alternativehypotheses.3. State your significance level.b. Data analysis: Analyze the data andconfirm assumptions have not beenviolated to complete this hypothesis test.a. Summarize your sample data usingappropriate graphical displays andsummary statistics.i. Provide at least one histogramof your sample data.ii. In a table, provide summarystatistics including sample size,mean, median, and standarddeviation.iii. Summarize your sample data,describing the center, spread,and shape in comparison tothe national information.b. Check the assumptions.i. Determine if the normalcondition has been met.ii. Determine if there are anyother conditions that shouldbe checked on and whetherthey have been met.c. Hypothesis test calculations: Completehypothesis test calculations, providingthe appropriate statistics and graphs.a. Calculate the hypothesis statistics.i. Determine the appropriate teststatistic (t).ii. Determine the probability (pvalue).d. Interpretation: Interpret your hypothesistest results using the p value method toreject or not reject the null hypothesis.a. Relate the p value and significancelevel.b. Make the correct decision (reject orfail to reject).c. Provide a conclusion in the contextof your hypothesis.e. Comparison of the test results: SeeQuestion 3 from the Scenario section.a. Calculate a 95% confidence interval.Show or describe your method ofcalculation.b. Interpret a 95% confidence interval.Final Conclusions1. Summarize your findings: Refer back tothe Introduction section above andsummarize your findings of the sampleyou selected.2. Discuss: Discuss whether you weresurprised by the findings. Why or whynot?

Given Information:- n Mean Median Std.Dev Min Q1 Q3 Max Listing price 1000 342,365…

Answered: Is it okay if I ask for a step-by-step…

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P