Business Statistic_Hypothesis Testing
Budget: $30 – $250 USD
Suppose you are assisting a business looking to relocate to Dallas Fort-Worth. Housing for their workforce is a major consideration in which city they will locate. The business has narrowed its search to three cities: Allen, Plano, and Wylie. The organization has asked you to provide a data analysis of the housing market in these cities.
1.Review the descriptive statistics provided in Part 1.
2.Based on the data set and the information we have, which test confidence interval should be used, a z or a t interval? Why?
3.Develop a 95% confidence interval estimate of the population mean of the market value of homes in each of the two cities.
4.What is a reasonable offer prospective buyers should make for homes in each of the cities? Briefly provide your reasoning based on the analysis.
5.Develop a 95% confidence interval estimate of the population mean of living area in each of the two cities.
6.Which city will provide more options for large families? Briefly provide your reasoning based on the analysis.
7.Create a hypothesis that compares the average market value of homes in the two cities. Provide your reasoning based on the descriptive statistics and the confidence intervals created in step 3.
8.Based on the data set and the information we have, which test statistic should be used, a z or a t test? Why?
9.Conduct a hypothesis test to determine if there is evidence to support your hypothesis at the 95% confidence level.
1.Review the descriptive statistics provided in Part 1.
2.Based on the data set and the information we have, which test confidence interval should be used, a z or a t interval? Why?
3.Develop a 95% confidence interval estimate of the population mean of the market value of homes in each of the two cities.
4.What is a reasonable offer prospective buyers should make for homes in each of the cities? Briefly provide your reasoning based on the analysis.
5.Develop a 95% confidence interval estimate of the population mean of living area in each of the two cities.
6.Which city will provide more options for large families? Briefly provide your reasoning based on the analysis.
7.Create a hypothesis that compares the average market value of homes in the two cities. Provide your reasoning based on the descriptive statistics and the confidence intervals created in step 3.
8.Based on the data set and the information we have, which test statistic should be used, a z or a t test? Why?
9.Conduct a hypothesis test to determine if there is evidence to support your hypothesis at the 95% confidence level.