MAT 240 Project Two Template 7-3 ed.docx - Regional vs...

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Regional vs. National Housing Price Comparison Report 1 [ Note: To complete this template, replace the bracketed text with your own content. Remove this note before you submit your outline.] Report: Regional vs. National Housing Price Comparison Southern New Hampshire University
Regional vs. National Housing Price Comparison Report 2 Introduction Purpose : This report is to answer the three questions are housing prices in the regional market higher than the national market, is the square footage for the homes in New England region different than the average square footage for homes in the national market, and for the new England region what is the range of values for the 95% confidence interval of square footage for homes in New England Region. First, determine if the New England regional housing prices are higher than the national market average. Second, Is the square footage for homes in the New England Region different from the average square footage for homes in the national market average. Third, for the New England region, what is the range of values for square footage using a 95% confidence interval. Before I go and answer these three questions, I choose to select a random sample of 100 counties from the New England region. I need to answer these questions by using two hypotheses, which is a way to test out if the hypothesis agrees with the question (null hypothesis (H0)) or does not agree (alternate hypothesis (Ha)) with the question. The null hypothesis is the baseline of what the problem is, while the alternate hypothesis is what we are trying to prove. Sample: I decided to select the New England region as my random sample. Using Excel I was able to select 100 random samples by using the =RAND() formula. Then organized the sample from smallest to largest. Questions and type of test: Using the random sample of the New England Region, there are two hypothesis questions to answer and determine what type of test is appropriate for each hypothesis question. The first hypothesis question being, are the housing prices in the New England region higher than the national market? To get this answer we will use we will use
Regional vs. National Housing Price Comparison Report 3 the inference method of a 1 tail-test. Then for the second hypothesis question is the square footage of the homes in the New England region different from the average square footage of homes in the national market? We will answer this by using the inference method of a 2 tail- test. The test statistic will be the average square footage of the homes. I will be using the 95% confidence interval test will give accurate results of what the New England region’s square footage range is. The confidence interval of 95% lets me know that I can estimate that the range of the square footage is 95% confident that the data is correct.

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