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Hi! Please answer the questions with Excel and show the steps. The dataset needed is in the Google Sheet here https://docs.google.com/spreadsheets/d/1Xt0DY2yZ35n_SUiG_5fAREW0ESoJDtOxGnI6BuiO4D0/edit?usp=sharing Thank you! The dataset
Hi! Please answer the questions with Excel and show the steps. The dataset needed is in the Google Sheet here https://docs.google.com/spreadsheets/d/1Xt0DY2yZ35n_SUiG_5fAREW0ESoJDtOxGnI6BuiO4D0/edit?usp=sharing
Thank you!
The dataset RealEstate contains information on the listing of 1,047 real estate properties in a certain region. Part I [23 marks] a) b) d) [5 marks] Treating the data in column Living Area [sq ft] as the population, use software to find the population mean and the population standard deviation. Is the population data reasonably normal? Examine a boxplot and a histogram of the data in column Living Area [sq ft] to justify your answer. From here on, assume that the population standard deviation is not known. [2 marks] Suppose that for a family of four, the ideal property size is between 2,400 and 2,800 square feet. Use software to code the data in column Living Area [sq ft] and put the result in column Coded Data. Code living areas between 2,400 and 2,800 square feet as \"1\" and code living areas outside of this interval as \"0\". Now calculate the population plroportion using software and report the result. [5 marks] The data in column Sample 1 is a simple random sample drawn from the data in column Living Area [sq ft]. Calculate manually a 95% confidence interval for the population mean based on this sample and confirm your calculations using software. [5 marks] Code the data in column Sample 1 using the same instructions as in part b] above and put the result in column Sample_p. Calculate manually a 90% confidence interval for the population proportion of properties with living areas between 2,400 and 2,800 square feet and confirm your calculations using software. Assume that the required conditions are met, and you can use the normal approximation. [4 marks] Now use software to randomly draw 19 additional samples of size n = 40 from column Living Area [sq ft]. The procedure must be repeated 19 times. Put these 19 samples in columns Sample 2, Sample 3, ..., Sample 19, Sample 20. For each of these additional samples, use software to calculate the 95% confidence interval for the population mean. [2 marks] Now count the number of confidence intervals, obtained from all the 20 samples, that contain the true value of the population mean from part a]. Is this what you might expect? Explain yourStep by Step Solution
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