Question
Hello, I need help please You have been hired by the Regional Real Estate Company to help them analyze real estate data. One of the
Hello, I need help please
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.
Design a hypothesis test and interpret the results using significance level = .05.
Use theHouse Listing Price by Regiondocument to help support your work on this assignment. You may also use theDescriptive Statistics in ExcelandCreating Histograms in Exceltutorials for support.
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.
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