5-3 Assignment: Means: Test of Hypothesis (1-Sample) link as follows youtu.be/b5gWwCVb7go?si=7php0Jjd1PZ6BvmC
Hypothesis Testing for Regional Real Estate Company 1
[Note: To complete this template, replace the bracketed text with your own content. Remove this note before you submit your outline.]
Hypothesis Testing for Regional Real Estate Company[Your Name]
Southern New Hampshire University
Introduction[Describe the purpose of this analysis. Briefly describe how you generated your random sample of 750 houses.]
Hypothesis Test Setup[Define your population parameter.]
[Write the null and alternative hypotheses.]
[Specify the name of the test you will use and identify whether it is a left-tailed, right-tailed, or two-tailed test.]
Data Analysis Preparations[Provide the descriptive statistics of the sample (sample size, mean, median, and standard deviation).]
[Provide a histogram of the sample.]
[Summarize your sample by writing a sentence describing the shape, center, and spread of your sample.]
[Check whether the assumptions to perform your identified test have been met.]
[Identify the test significance level. For example, α = .05]
Calculations[Calculate the sample mean and standard error.]
[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 280.]
[Calculate the p value using one of the following tests:]
| Excel Function | Type of Test |
| =T.DIST.RT([test statistic], [degree of freedom]) | Right-tailed |
| =T.DIST([test statistic], [degree of freedom], 1) | Left-tailed |
| =T.DIST.2T([test statistic], [degree of freedom]) | Two-tailed |
[Note: The degree of freedom is calculated by subtracting 1 from your sample size.]
[Use the normal curve graph as a reference to describe where the p value and test statistic would be placed.]
Test Decision[Compare the relationship between the p value and significance level.]
[Decide to reject or fail to reject the null hypothesis.]
Conclusion[Explain in one paragraph how your test decision relates to your hypothesis and whether your conclusions are statistically significant.]
