MAT 240 Week 5 Assignment Help | southern-new-hampshire-university
- southern-new-hampshire-university / MAT 240
- 24 Mar 2021
- Price: $12
- Mathematics Assignment Help / statistics
MAT 240 Week 5 Assignment Help | southern-new-hampshire-university
Module Five Assignment Guidelines
Scenario
You have been hired by the Regional Real Estate Company to help
them analyze real estate data. One of the company’s Pacific region salespeople
just returned to the office with a newly designed advertisement. It states that
the average cost per square foot of his home sales is above the average cost
per square foot in the Pacific region. He wants you to make sure he can make
that statement before approving the use of the advertisement. The average cost
per square foot of his home sales is $275. In order to test his claim, you
collect a sample of 1,001 home sales for the Pacific region.
Prompt
Design a hypothesis test and interpret the results using
significance level α = .05.
Use the House Listing Price by Region document
to help support your work on this assignment. You may also use the Descriptive Statistics in Excel and Creating Histograms in Excel tutorials
for support.
Specifically, you must address the following rubric criteria,
using the Module Five Assignment Template.
- Setup: Define
your population parameter, including hypothesis statements, and specify
the appropriate test.
- Define
your population parameter.
- Write
the null and alternative hypotheses. Note: Remember, the salesperson
believes that his sales are higher.
- Specify
the name of the test you will use.
- Identify
whether it is a left-tailed, right-tailed, or two-tailed test.
- Identify
your significance level.
- Data
Analysis Preparations: Describe sample summary
statistics, provide a histogram and summary, check assumptions, and find
the test statistic and significance level.
- Provide
the descriptive statistics (sample size, mean, median, and standard
deviation).
- Provide
a histogram of your sample.
- Describe
your sample by writing a sentence describing the shape, center, and
spread of your sample.
- Determine
whether the conditions to perform your identified test have been met.
- Calculations: Calculate
the p value, describe the p value and test statistic in regard to the
normal curve graph, discuss how the p value relates to the significance
level, and compare the p value to the significance level to reject or fail
to reject the null hypothesis.
- Determine
the appropriate test statistic, then calculate the test statistic.
Note: This calculation is (mean – target)/standard error. In this case, the mean is your regional mean (Pacific), and the target is 275. - Calculate
the p value.
Note: For right-tailed, use the T.DIST.RT function in Excel, left-tailed is the T.DIST function, and two-tailed is the T.DIST.2T function. The degree of freedom is calculated by subtracting 1 from your sample size.
Choose your test from the following:
=T.DIST.RT([test statistic], [degree of freedom])
=T.DIST([test statistic], [degree of freedom], 1)
=T.DIST.2T([test statistic], [degree of freedom]) - Using
the normal curve graph as a reference, describe where the p value and test
statistic would be placed.
- Test
Decision: Discuss
the relationship between the p value and the significance level, including
a comparison between the two, and decide to reject or fail to reject the
null hypothesis.
- Discuss
how the p value relates to the significance level.
- Compare
the p value and significance level, and make a
decision to reject or fail to reject the null hypothesis.
- Conclusion: Discuss
how your test relates to the hypothesis and discuss the statistical
significance.
- Explain
in one paragraph how your test decision relates to your hypothesis and
whether your conclusions are statistically significant.