Regional vs. National Housing Price Comparison Report 2

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Report: Regional vs. National Housing Price Comparison

[Your Name]

Regional vs. National Housing Price Comparison Report 1

Southern New Hampshire University

Introduction

Region: [Clearly specify the region you picked from the list of regions mentioned in the Directions (West South Central, West North Central, East South Central, East North Central, Mid Atlantic).]

Purpose: [Define the purpose of the report.]

Sample: [Define your sample. Take a random sample of 500 house sales for your region. Describe what is included in your sample (i.e., states, region, years or months).]

Questions and type of test: [For your selected sample, define two hypothesis questions (see the Scenario in the learning management system) and the appropriate type of test hypothesis for each.]

[First hypothesis:
Describe the population parameter for the variable you are analyzing.]

[First hypothesis:
Describe your hypothesis in your own words.]

[First hypothesis: Identify the hypothesis test you will use (1-Tail or 2-Tail).]

[Second hypothesis:
Describe the population parameter for the variable you are analyzing.]

[Second hypothesis:
Describe your hypothesis in your own words.]

[Second hypothesis: Identify the hypothesis test you will use (1-Tail or 2-Tail).]

Level of confidence: [Discuss how you will use estimation and confidence intervals to help you solve the problem.]

1-Tail Test

Hypothesis: [Define the population parameter.]

Hypothesis: [Write null (Ho) and alternative (Ha) hypotheses.
Note: For means, define a hypothesis that
is
less than
the population parameter.]

Hypothesis: [Specify your significance level.]

Data analysis: [Provide at least one histogram of your sample data.]

Data analysis: [In a table, provide summary statistics including sample size, mean, median, and standard deviation.

Note: For quartiles 1 and 3, use the quartile function in Excel:]

=QUARTILE([data range], [quartile number])

Data analysis: [Summarize your sample data, describing the center, spread, and shape in comparison to the national information (Under “Supporting Materials,” see the National Summary Statistics and Graphs House Listing Price by Region PDF in the learning management system).
Note: For shape, think about the distribution: skewed or symmetric.]

Data analysis: [Check the assumptions by determining if the normal condition has been met. Determine if there are any other conditions that you should check and whether they have been met.
Note: Think about the central limit theorem and sampling methods.]

Hypothesis Test Calculations: [Determine the appropriate test statistic (
t).
Note: This calculation is (mean – target)/standard error. In this case, the mean is your regional mean, and the target is the national mean.]

Hypothesis Test Calculations: [Calculate the probability (
p value).
Note: This calculation is done with the T.DIST function in Excel:

=T.DIST([test statistic], [degree of freedom], True).

The degree of freedom is calculated by subtracting 1 from your sample size.]

Interpretation: [Compare the
p value and significance level.]

Interpretation: [Make the correct decision (reject or fail to reject).]

Interpretation: [Provide a conclusion in the context of your hypothesis.]

2-Tail Test

Hypotheses: [Define the population parameter.]

Hypotheses: [Write null and alternative hypotheses.
Note: For means, define a hypothesis that
is not equal to the population parameter.]

Hypotheses: [State your significance level.]

Data Analysis: [Provide at least one histogram of your sample data.]

Data Analysis: [In a table, provide summary statistics including sample size, mean, and standard deviation.
Note: For quartiles 1 and 3, use the quartile function in Excel: =QUARTILE([data range], [quartile number]) ]

Data Analysis: [Summarize your sample data, describing the center, spread, and shape in comparison to the national information.
Note: For shape, think about the distribution: skewed or symmetric.]

Data Analysis: [Check the assumptions by determining if the normal condition has been met. Determine if there are any other conditions that you should check and whether they have been met.
Note: Think about the central limit theorem and sampling methods.]

Hypothesis Test Calculations: [Determine the appropriate test statistic (
t).
Note: This calculation is (mean – target)/standard error. In this case, the mean is your regional mean, and the target is the national mean.]

Hypothesis Test Calculations: [Calculate the probability (
p value).
Note: This calculation is done with the TDIST.2T function in Excel: =T.DIST.2T([test statistic], [degree of freedom]). The degree of freedom is calculated by subtracting 1 from your sample size.]

Interpretation: [Relate the
p value and significance level.]

Interpretation: [Make the correct decision (reject or fail to reject).]

Interpretation: [Provide a conclusion in context to your hypothesis.]

Comparison of the Test Results: [Calculate and report the 95% confidence interval. Show or describe the method of calculation.]

Final Conclusions

Summarize Your Findings: [In one paragraph, summarize your findings in clear and concise plain language.]

Discuss: [Discuss if you were surprised by the findings including why or why not.]