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 α = .05. Use the House Listing Price by Region document to help support your work on this assignment. You may also use the Descriptive Statistics in Excel and Creating Histograms in Excel tutorials for support. Specifically, you must address the following rubric criteria, using the Module Five Assignment Template. 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. Calculations: Calculate the p value, describe the p value and test statistic in regard to the normal curve graph, discuss how the p value relates to the significance level, and compare the p value to the significance level to reject or fail to reject the null hypothesis. Determine the appropriate test statistic, then calculate the test statistic. Note: This calculation is (mean – target)/standard error. In this case, the mean is your regional mean (Pacific), and the target is 275. Calculate the p value. Note: For right-tailed, use the T.DIST.RT function in Excel, left-tailed is the T.DIST function, and two-tailed is the T.DIST.2T function. The degree of freedom is calculated by subtracting 1 from your sample size. Choose your test from the following: =T.DIST.RT([test statistic], [degree of freedom]) =T.DIST([test statistic], [degree of freedom], 1) =T.DIST.2T([test statistic], [degree of freedom]) Using the normal curve graph as a reference, describe where the p value and test statistic would be placed. Test Decision: Discuss the relationship between the p value and the significance level, including a comparison between the two, and decide to reject or fail to reject the null hypothesis. Discuss how the p value relates to the significance level. Compare the p value and significance level, and make a decision to reject or fail to reject the null hypothesis. Conclusion: Discuss how your test relates to the hypothesis and discuss the statistical significance. Explain in one paragraph how your test decision relates to your hypothesis and whether your conclusions are statistically significant
Why Choose Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
Customer Support 24/7
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission and Business Papers
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Editing and Proofreading
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.