Regional vs. National Housing Price Comparison Report
: 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:
Are housing prices in your regional market higher than the national market average?
Is the square footage for homes in your region different than the average square footage
for homes in the national market?
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.
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