Question

Create the Descriptive Statistics for "Price" and "SQFT" - Include a 95% Confidence Test on the Population Mean
Produce a Scatterplot for Price (Dependent) and SQFT (Independent) (PLACE BELOW)
Conduct a 95% Hypothesis Test (i.e., ? = .05) to determine if the Mean Price of Houses is greater than $242,512. Use a
Population Standard Deviation of $172,000 for your Z-test (i.e., we are determing if the mean has increased from the previous year). Create the Descriptive Statistics for "Price" and "SQFT" - Include a 95% Confidence Test on the Population Mean Produce a Scatterplot for Price (Dependent) and SQFT (Independent) (PLACE BELOW) Conduct a 95% Hypothesis Test (i.e., ? = .05) to determine if the Mean Price of Houses is greater than $242,512. Use a Population Standard Deviation of $172,000 for your Z-test (i.e., we are determing if the mean has increased from the previous year). Location U/S/R Lot (Acres) Garage BRs Baths Age Sq. Ft. Price 10 R 2 0 2 1 27 1100 54000 2 U 0.25 1 3 2 26 1875 98000 5 S 0.25 0 2 1.5 82 1350 125700 6 S 0.5 2 3 2 11 2612 250000 9 S 0.5 1 3 2 17 2190 411500 1 U 0.25 0 3 1 21 1800 56500 3 S 0.25 2 3 2 6 1605 289500 7 R 12 2 3 2.5 72 2199 420000 4 S 0.4 2 3 2 15 2120 199800 10 R 1 1 2 2 12 1950 77000 2 U 0.5 0 2 2 16 1420 78600 5 S 0.75 2 3 2 22 2090 199800 6 S 0.5 2 3 2.5 9 2770 279500 9 S 1 3 5 5 4 3650 842000 1 U 0.25 1 3 1.5 28 1600 66720 3 S 0.5 2 3 2 11 2288 311450 7 R 1.5 2 3 2 21 2000 311520 4 S 0.25 1 3 2 9 1880 187500 10 R 3 1 4 2 35 3011 98000 2 U 0.4 2 3 2 4 2980 112000 5 S 0.25 0 3 2 11 1850 146850 6 S 0.5 3 4 2.5 3 3520 301500 9 S 0.75 3 4 3.5 9 3300 690000 1 U 0.5 1 3 1.5 37 1905 71200 3 S 0.25 2 3 2 5 2850 275000 7 R 10 3 4 2 2 3250 598230 4 S 0.4 2 3 2 3 1900 176500 10 R 1.5 1 3 1.5 38 2015 68521 2 U 0.66 1 3 2.5 16 2190 101500 5 S 0.66 1 3 1.5 22 1750 117650 6 S 1 2 3 2.5 8 2190 266000 9 S 0.75 2 3 3 6 3450 601500 1 U 0.5 0 2 1.5 31 1064 39800 3 S 0.75 2 4 2.5 9 2540 401500 7 R 5 3 5 2.5 4 4200 782000 4 S 0.66 2 3 2 8 1980 201500 10 R 14 1 3 2 17 1865 119500 2 U 0.75 1 3 2 21 1750 88420 5 S 0.5 2 3 2 15 1700 188500 6 S 0.5 1 3 2 8 2045 231100 9 S 0.5 2 3 2.5 15 2700 485200 1 U 0.75 1 3 2 29 1550 48999 3 S 0.5 2 4 2 13 2390 366500 7 R 9 2 3 2 17 2050 356420 4 S 0.25 1 2 2 8 1830 157650 10 R 0.5 0 2 1 36 1450 49874 2 U 0.5 2 3 2.5 9 1800 91640 5 S 0.75 1 3 2 12 2015 179500 6 S 0.5 2 3 2.5 4 1950 189500 9 S 0.5 2 4 2.5 4 2888 532800 1 U 0.4 1 3 2 16 2012 52100 3 S 0.5 2 3 2.5 7 2450 399500 7 R 4 2 3 2.5 37 3450 388600 4 S 0.4 2 3 2.5 2 2200 175800 10 R 8 2 3 2 21 2220 95400 2 U 0.5 1 2 1.5 15 1995 96888 5 S 1 2 3 2 36 2100 171630 6 S 0.75 2 3 2 7 2750 207500 9 S 0.75 2 4 3 2 3120 577900 1 U 0.25 0 2 2 14 1011 49875 3 S 0.5 2 2 2 6 2120 247800 7 R 22 3 4 3.5 3 3890 497500 4 S 0.66 2 4 2.5 4 2100 205000 10 R 2.5 0 3 1 35 1090 77000 2 U 0.4 1 2 2 4 1900 91400 5 S 0.25 1 2 2 3 1040 152800 6 S 1 2 4 3 7 3850 401500 9 S 0.5 2 3 3 1 2950 505000 1 U 0.4 1 2 2 25 1000 58700 3 S 0.5 1 3 2.5 2 2850 285235 7 R 75 2 3 2 15 2740 675500 4 S 0.25 1 2 2 4 1850 188760 10 R 11 2 3 2 5 2950 171680 2 U 0.75 1 2 2 7 1640 84600 5 S 0.8 2 3 2 2 1800 166900 6 S 0.75 3 4 2.5 7 3200 366900 9 S 0.5 2 3 2 9 2400 411960 1 U 0.5 2 3 2 17 2200 68900 3 S 0.5 2 4 2.5 8 3300 297600 7 R 11 2 4 3 3 4350 524700 4 S 0.4 2 3 2 12 1800 181500 10 R 4 1 2 2 37 1750 88520 2 U 0.5 0 3 1.5 32 1490 79450 5 S 0.5 1 3 2 17 1500 151960 6 S 1 2 3 2 11 2175 302900 9 S 0.5 2 3 2.5 11 2550 489650 1 U 0.25 0 2 1.5 12 850 64995 3 S 1 2 3 2.5 6 2752 400500 7 R 18 2 5 3 14 4540 711000 4 S 0.5 1 2 2 9 1590 172450 10 R 2 1 2 1.5 24 1275 81400

Answer 1

Create the Descriptive Statistics for "Price" and "SQFT" - Include a 95% Confidence Test on the Population Mean

1.Bring data in to excel sheet.

2.go to data tab--> choose data analysis from analyze option --? choose descriptive statistics

3.

Produce a Scatterplot for Price (Dependent) and SQFT (Independent) (PLACE BELOW)

1.Select sqft and price column and insert scatter diagram in excel like below

Righ click inside the scatter and add trendline , choose linear and get the lineare regression equation as well

use a Population Standard Deviation of $172,000 for your Z-test (i.e., we are determing if the mean has increased from the previous year). Run REgression analyssi report in data analysis for checking whethere the data is null hypothesis or alternative hypothesis

Decision rule:

P value is equal to significance F value in regression

P value = 0.00 so P< 0.05

If the p-value is less than 0.05, we reject the null hypothesis that there's no difference between the means and conclude that a significant difference does exist.