MAT 240 Project Two Template.docx - Regional vs National...

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Regional vs. National Housing Price Comparison Report 1 Report: Regional vs. National Housing Price Comparison Southern New Hampshire University
Regional vs. National Housing Price Comparison Report 2 Introduction Purpose : I’ve been hired by my regional real estate company to find out if this region’s housing prices and housing square footage are significantly different from those of the national market. In other words, we are comparing our regions listings to those from the National real estate level. The regional sales director requests three questions to be addressed in this report: 1. Are housing prices in your regional market higher than the national market average? 2. Is the square footage for homes in your region different than the average square footage for homes in the national market? 3. For your region, what is the range of values for the 95% confidence interval of square footage for homes in your market? This report will aide in guiding the regional real estate company’s ability to make better market influenced decisions with the real estate homes under their control, which in turn will grow the business and customers. Sample: We randomly selected 100 listings from Mid Atlantic’s region and assess the data by implementing problem solving skills through the use of statistical summary. This will include creating a hypothesis, alternate hypothesis, null hypothesis, tables and charts, which we will then analyze all of the data we collected, to infer if those statements are true or false, and why. At this point we will interpret the data so that it is readily understood. We will use what we’ve learned to compare our random sample of 100 from our region (Mid Atlantic) to the national data’s real estate listings provided to us. The way I ensured my sample was completely random was through the use of the random function within Microsoft Excel. I was able to select the Mid-Atlantic Region of the United States, and then I applied the function to scramble the list of properties within the region. The function that was used looks
Regional vs. National Housing Price Comparison Report 3 like this. =RAND(). After assigning a random function to each row in my list by creating a new column of random numbers, I was then able to sort these rows by way of a truly random sample through the sort and filter option. I then chose the first 100 samples generated on the new list to gather the information of the mean, median, and standard deviation of the House listing prices and house square footage provided for the properties. Questions and type of test: To answer the first question that was asked of us, we should create an Alternative hypothesis and Null hypothesis. The question is, “are housing prices in your regional market higher than the national market average?”

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