Overview: To better understand statistical inference you will use sampling techniques and condence intervals to answer questions concerning a population of single-family homes in Wake County, North Caroiina. Rather than going from house to house in the county. you will make use of an online database that lists key characteristics of these homes. Image - 0 Mikhail Denney used with permission through Drean'rstime.com Before you start working on this activity. click on the link below to save a copy of the Data Report Form Excel le to your computer. You'll need this form to record the information from the property listing and to do your data analysis. You can also put the answers to the questions beiow on the same Excel form. As a reminder, you can get Excel for free and enter your school email address. You may have to leave the "my." out of your email. Click on the Link: Real Estate Starter Data There are approximately 310.000 properties in the Wake County database. In the Ee linked above. there are 50 "random" numbers generated for you to use. In this activity, you need a sample of 30 singlefamily homes. There are 50 random numbers because some of the real estate properties won't be single-family residences. You can stop once you have 30 single-family homes. The rst 25 singlefamily homes a re completed for you, so you only need to nd 5 more. A B C D E F PROPERTY DATA REID # Address Total Value Heated Area AC FP 149128 5212 RIVER LANDINGS DR $147,760.00 1362 Yes Yes 33634 1429 KERSHAW DR $503,928.00 3503 Yes Yes 2552 2704 KNOWLES ST $97,349.00 752 Yes No 195111 100 DOVERSHIRE CT $346,265.00 2348 Yes Yes 182380 1209 TROTTER BLUFFS DR $196,455.00 1770 Yes Yes 223331 1809 BETRY PL $205,512.00 1702 Yes Yes 161966 215 TORREY PINES DR $1,252,725.00 5482 Yes Yes 162092 104 KEITHWOOD LN $225,073.00 1678 Yes Yes 147353 102 CULCROSS CT $236,650.00 1984 Yes Yes 146269 603 BROAD LEAF CIR $114,830.00 1388 Yes Yes 295713 2524 HIDDEN MEADOW DR $265,743.00 2862 Yes Yes 89006 109 KIERNAN CHOICE $320,351.00 2634 Yes Yes 219274 1706 ASHBARK CT $238,192.00 2030 Yes Yes 218914 8301 HOBHOUSE CIRCLE $231,391.00 2074 Yes Yes 164011 105 TOLLIVER CT $337,743.00 3079 Yes Yes 250499 363 SEASTONE ST $237,908.00 2371 Yes Yes 194739 106 LARSKSPUR LN $295,116.00 1873 Yes Yes 134186 7904 SUTTERTON CT $355,379.00 2428 Yes Yes 136262 1009 HARVEST MILL CT $189,806.00 2068 Yes Yes 126983 2013 COUNTRYWOOD NORTH RD $411,819.00 2868 Yes Yes 82591 500 PERRY CURTIS RD $36,687.00 952 No No 210521 113 DEEP GAP RUN $301,433.00 2752 Yes Yes 7805 906 DOROTHEA DR $361,359.00 1344 Yes No 50471 1209 PARK DR $662,800.00 3080 Yes Yes 205640 509 MIDENHALL WAY $509,432.00 3045 Yes Yes 152122 204944 73613 52093 145536 7540 135484 230306 161244 189029 48956 1696 93796 194386 19552 186879 90233 117923 165010 32669 256848 226365 147863 257792 2573391. Open the website Wake County Real Estate Data. The website allows the user to search property listings based on their Real Estate Id (REID) number as well as other indicators. You will enter each ID number from your list of randomly generated numbers until you have a total of 30 single-family houses. Wake County Real Estate Data Real Estate Property Search WAKE COUNTY Heme Tax Bills NORTH CAROLINA Enter Search Criteria Below Search by Owner Search by ite al Estate ID is. 0109314 Search by Location Address Search by Parcel Mentification Number (PIN "If more than one match or partial match is found for rbest name, you will be "The code is not part of the 10 dight pin that uniquely Identifies a paoparty. Scale allowed to refine your ssuch by ruleding from a list of amap indus and should only be used for browning by map and soils, Le. 1704 09 2. After you enter the REID number, you will be transferred to an account summary for the property listing. Click on the Buildings tab. Home Wake County Real Estate Data Building Detail Tax Bils Real Estate ID 01000 19 PIN # 17148 17061 WAKE Account Location Address Property Description Search 2457 BERTIE DR LOZZ LONGVIEW GARDENS BUR COUNTY How Search NORTH CAROLINA Account Go!3. Before going any further, verify the property is a single family home. If the property is not a single family home, enter the next randomly generated number in the Account Search field to the right. Do not enter data from properties that are not listed as single family homes. Single Family Home Home Wake County Real Estate Data Maps Building Detail Tax Bills Real Estate 10 0809012 PIN # 1714817081 Account WAKE Location Address Property Description Seach 2457 BERTIE DR L022 LONGVIEW GARDENS BLR COUNTY New Search Hap NORTH CAROLINA Building Location Address Building Description Card 01 Of 01 2457 BERTIE DR OTRA512 197.280 Bidg Type 01 Single Family Year Bi 1961 Base Bidg Value C+10 110% Units Grade Healed Area Cond % A Story Height 1 Story Int. Adjust. BSMT - Fully Fialshe Market Adj Style Split Level Market Adj Baserment 50% Partial Bas Other One Fireplace Accrued % 82%% Exterior Buick and Frame Features Incomplete %% 147.817 Const Type Cand 01 Value Healing Central All Other Cards 120.000 Air Cond No Air Conditio Land Value Assessed Plumbing 2 BATH Total Value Assessed $107 8 47 Main and Addition Summary Other Improvements Story Type Code Inc Units Des Bom Code Year 400 Inc Value BRAFR/P 1219 GX7 SF SHED 2001 1965 100 STP STP Building Sketch Photograph 1/15 1935 25 234. If the property is a single family home, record the following in the Excel file you had downloaded earlier: Real Estate ID Number - Record the number Address - Record the street address Total Value assessed - Record the amount Heated Area - Record the number Air Conditioning - Record yes or no Fireplace - Record yes or no 5. Calculate 95% and 99% confidence intervals for the Total Assessed Value, Heated Area, Air Conditioning, and Fireplaces based on your sample data. Keep in mind that these variables are not the same type. You'll need to decide which formula to use for each variable. There should be a total of 8 confidence intervals calculated, 2 for each of the 4 variables. 6. Explain what each of the confidence intervals tell you concerning the homes in Wake County. Write these explanations in full sentences! Example: We are 95% confident that the mean assessed value of all homes in Wake County is... etc. 7. Considering the confidence intervals, answer the following questions: a. By increasing the confidence level, explain how the confidence intervals were affected and why that makes sense. b. If more data was used in the sample, explain how the confidence intervals would be affected and why that makes sense