Scenario

You have been hired by your regional real estate company to determine if your region's housing prices and housing square footage are significantly different from those of the national market. The regional sales director has three questions that they want to see addressed in the report:

1. Are housing prices in your regional market lower than the national market average?
2. Is the square footage for homes in your region different than the average square footage for homes in the national market?
3. For your region, what is the range of values for the 95% confidence interval of square footage for homes in your market?

You are given a real estate data set that has houses listed for every county in the United States. In addition, you have been given national statistics and graphs that show the national averages for housing prices and square footage. Your job is to analyze the data, complete the statistical analyses, and provide a report to the regional sales director. You will do so by completing the Project Two Template located in the What to Submit area below.

1. Questions and type of test: For your selected sample, define two hypothesis questions (see the Scenario above) and the appropriate type of test for each. Address the following for each hypothesis:
   1. Describe the population parameter for the variable you are analyzing.
   2. Describe your hypothesis inwn words.
   3. Identify the hypothesis test you will use (1-Tail or 2-Tail).
2. Level of confidence: Discuss how you will use estimation and confidence intervals to help you solve the problem.

1-tail test

Summarize your sample data using appropriate graphical displays and summary statistics and confirm assumptions have not been violated to complt this hypothesis test.

National average listing price	$288,407
Sample mean	$286,408
Sample Std dev	121106.0745
Standard error	5416.028301
parameter = mean listing price in South Atlantic region
Ho: mean = 288,407
Ha: mean < 288,407
level of significance = 0.05
test statistic	-0.37
p-value	0.356098533