Question
Please review my answers and advise where I have made an error and how to fix it. Using the data provided on the prices of
Please review my answers and advise where I have made an error and how to fix it.
Using the data provided on the prices of homes in several neighborhoods around the City of New York. The statistical analysis is from Staten Island Dungan Hill (SI) and Bedford CRWN Brooklyn (BKLYN).
Represented in the tables below are;
1.The Average Price per Square Foot for houses in the two neighborhoods is SI at 23186 and BKLYN at 299.08.
2.The Standard Deviation of the Average Price per Square Foot in SI is 1402. , and 108. in BKLYN.
3.Average Age of houses in the two neighborhoods
4.The Standard Deviation of the Average Price Age of houses in each of the two neighborhoods is 136,248.81 in SI and 286,078.59 in BKLYN.
5.Two reasons that the average price of houses and the Average Price per Square Foot in Staten Island neighborhoods will be different from the Brooklyn neighborhoods are; Economic level/class and the development status of neighborhoods.
6.For each neighborhood, establish a 98% Confidence Interval for the Average Price per Square Foot of the houses.
Staten Island Dungan Hill - Confidence Level (98%) 487.3581704
Bedford Brooklyn CRWN Confidence Level (98%) 37.65499334
7.Based on your results, do you have any reason to believe that the Average Price per Square Foot is significantly higher than the Average Price per Square Foot in the other neighborhood?
As per the analysis, the Average Price per Square Foot is significantly higher in Staten Island Dungan Hill than the Average Price per Square Foot in the Bedford Brooklyn CRWN.
8.Apply the method of hypothesis testing to explain whether there is a significant difference in the price per square foot between the neighborhoods.
Utilizing the data proved a 98% confidence level was performed. From the results, we can see that the One-way ANOVA between the 'Price of Houses' in the two neighborhoods gives a p-value of 0.3670. Since 0.3.670 is less than the significance level of 2.326, we reject the null hypothesis that the means of the price per square foot between the two neighborhoods are equal.
Q#8 Data
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