Hypothesis Testing for Regional Real Estate Company

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. The average cost per square foot of home sales based on this
advertisement is $280. The salesperson claims that the average cost per square foot in the
Pacific region is less than $280. In other words, he claims that the newly designed
advertisement would result in higher 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. In order to test his claim, you will generate a random sample size of 750
using data for the Pacific region and use this data to perform a hypothesis test.
Prompt
Generate a sample of size 750 using data for the Pacific region. Then, design a hypothesis
test and interpret the results using significance level α = .05. You will work with this sample
in the assignment. Briefly describe how you generated your random sample.
Hypothesis Testing for Regional Real Estate Company

Introduction

A salesperson from Region Real Estate Company claims that a brand new ad is

likely to lead to a higher prices per square foot that could result in a higher cost per square foot Pacific Region. The cost average per square foot is expected to be higher in the Pacific Region.

per square foot of sales at home in the advertisement, which is $280 per square foot, the figure that the salesperson claims to be

less than less than. The purpose of this study is to confirm that what the claims made by the salesperson are accurate.

by analyzing the real estate market information.

Introduction

Test of Hypothesis in Regional Real Estate Company 2

I made the random numbers by using a data analysis software in Excel. I utilized a minimum number

of $213 and a maximum of $787. This sample had a value of of 750. Based on these

Figures that I was in a position to create a set of 6 random figure, and then the frequency which was equal to 1. I

Then, I feed this data to the program to analyze data in Excel which generated the numbers I’ve

Used for analysis.

Setup

The goal mean of the samples is $280, and the value of the sample’s n is the value of 750.

Null Hypothesis: On average, the price per square foot for the Pacific Region is equal to $280.

Alternative hypothesis: The average price per square foot for the Pacific Region is less than $280.

The test will utilize data from the Pacific Region data and it will be left untailed. Results of the test will be

that was done using t-statistics and T.DIST formula, since this sample has a left tail.

Data Analysis Preparation

The sample contains information taken from Pacific Region Housing. The sample includes of 750 homes

In the region, there are random prices derived using a sample of $300 to $750.

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