Hypothesis Test Calculations:

[Determine the appropriate test statistic (t).]

[Note: This calculation is (mean - target)/standard error. In this case, the mean is your regional mean, and the target is the national mean.]

[Calculate the probability (pvalue).]

[Note: This calculation is done with the T.DIST.RT function in Excel: =T.DIST.RT([test statistic], [degree of freedom]). The degree of freedom is calculated by subtracting 1 from your sample size.]

Interpretation:

[Relate the pvalue and significance level.]

[Make the correct decision (reject or fail to reject).]

[Provide a conclusion in the context of your hypothesis.]

H0:u=342,365

Ha:u 342,365

My Data

Mean	228994.1536
Median	215050
Mode	169950
Standard Deviation	79432.17347
Count	500

vs. National data

Summary Statistics n Mean Median Std. Dev. Min Q1 Q3 Max Listing 1,000 342,365 318,000 125,914 135,300 265,250 381,600 987,600 price ($) Cost per 1,000 169 166 41 71 191 344 square foot ($) Square 1,000 2,111 1,881 321 1,101 1,626 2,215 6,516 feet This graph shows the frequency for listing price. Nation d Lating Prices 150 This graph shows the frequency for square feet. National Listing's Square Feet 200 4808 6060 E