A regional realty corporation hired me as a data analyst to analyze real estate data. It will consist of conducting a hypothesis testing to verify a claim. An advertisement that was just created claims that the cost of selling a house to a salesperson ($275 per square feet) is greater than what it costs in the Pacific. This hypothesis test is intended to help the salesman make an informed decision before authorizing use of the advertisement. An example of 1001 data on Pacific house sales will help to assess the claim.
Configuration
The population parameter will be the cost per square feet in the Pacific region. It will use a lower-tail (left-tail) distribution with a significance of 0.05. This study has two hypotheses:
Null hypothesis: μ ≥ 275
Alternative hypothesis: μ < 275
Data Analysis Planning
The research uses a 1,001-person sample from the Pacific region and provides data about the counties, states, prices of homes, square footage, cost per sq foot and costs.
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