Rubric:
A.
B.
C.
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 $275,000.
Population Standard Deviation of $214,233 for your Z-test (i.e., we are determing if the mean has increased from
Questions to be answered:
1.
2.
3.
4.
From the Scatterplot (placed below), is there a relationship
between Price and SQFT (Yes or No)?
What is the Mean of Price?
What is the Lower Limit of the 95% Confidence Test?
What is the Upper Limit of the 95% Confidence Test?
5.
This sample is from 2017. A previous years study showed the
Mean Price to be $265,413. The City Mayor recently claimed
that the local economic boom has now increased that Mean
to over $275,000! Using the 95% confidence interval, is his
claim justified? (Yes or No)
6.
Explain: (WHY?)
7.
8.
9
10
What are your Hypotheses for the Test in Step C? (e.g., Ho: ½ value; H1: ? value)
Calculate your Z critical value
What is your decision rule?
What is your decision regarding the Null Hypothesis?
” – Include a 95% Confidence Test on the Population Mean
(Independent) (PLACE BELOW)
mine if the Mean Price of Houses is greater than $275,000. Use a
test (i.e., we are determing if the mean has increased from the previous year).
You must show all your work whe
What I expect.
Answers
Points
Ho: ? value; H1: ? value
Total Points Available =
1
yes/no
1
2
2
number
number
number
1
yes/no
3
at least a sentence
3
type it out completely. I.E. edit the text in cell
2
2
3
20
type out something if Z value is (equal, less tha
Type reject or do not reject
You can cut and paste these for qu
???
how all your work whether through the Data Analysis Tool, Excel functions, or typed in formulas.
Replace the question marks with the correct operator, i.e. =, >, are on your keyboard.
Sq. Ft.
1100
1875
1350
2612
2190
1800
1605
2199
2120
1950
1420
2090
2770
3650
1600
2288
2000
1880
3011
2980
1850
3520
3300
1905
2850
3250
1900
2015
2190
1750
2190
3450
1064
Price
$
61,020
$
110,740
$
142,041
$
282,500
$
464,995
$
63,845
$
327,135
$
474,600
$
225,774
$
87,010
$
88,818
$
225,774
$
315,835
$
951,460
$
75,394
$
351,939
$
352,018
$
211,875
$
110,740
$
126,560
$
165,941
$
340,695
$
779,700
$
80,456
$
310,750
$
676,000
$
199,445
$
77,429
$
114,695
$
132,945
$
300,580
$
679,695
$
44,974
2540
4200
1980
1865
1750
1700
2045
2700
1550
2390
2050
1830
1450
1800
2015
1950
2888
2012
2450
3450
2200
2220
1995
2100
2750
3120
1011
2120
3890
2100
1090
1900
1040
3850
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
453,695
883,660
227,695
135,035
99,915
213,005
261,143
548,276
55,369
414,145
402,755
178,145
56,358
103,553
202,835
214,135
602,064
58,873
451,435
439,118
198,654
107,802
109,483
193,942
234,475
653,027
56,359
280,014
562,175
231,650
87,010
103,282
172,664
453,695
2950
1000
2850
2740
1850
2950
1640
1800
3200
2400
2200
3300
4350
1800
1750
1490
1500
2175
2550
850
2752
4540
1590
1275
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
570,650
66,331
322,316
763,315
213,299
193,998
95,598
188,597
414,597
465,515
77,857
336,288
592,911
205,095
100,028
89,779
171,715
342,277
553,305
73,444
452,565
803,430
194,869
91,982
Copy and place your Scatterplot from Step B above below here:

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