One Sample Hypothesis Testing Paper
Using numerical data from one of the 2005 Real Estate data set, develop one business research question (The research question is "What Affects the Price of a Home)?") from which you will formulate a research hypothesis that will test two or more populations (HO: the price of a home is less than or equal to its value when it has more bedrooms and HA: the price of a home is greater than its value when it has more bedrooms.)
Prepare a paper describing the results of a hypothesis test of two populations or more than two populations (ANOVA). Be sure to include the following in your paper:
1. Formulate both a numerical and verbal hypothesis statement regarding your research issue.
2. Perform the five-step hypothesis test on data pertaining to your selection.
- Step 1: State the null hypothesis and the alternate hypothesis.
- Step 2: Select a level of significance (? or alpha) which will be used when finding critical value(s).
- Step 3: Identify the test statistic.
- Step 4: State the decision rule.
- Step 5: Take a sample and arrive at a decision.
3. Describe the results of your test, and explain how the findings from this hypothesis testing can be used to answer your research question.
FYI: The level of measurement that will be use is ratio and the level of significant will be based on a 95% confidence interval.
The solution provides a detailed step-by-step method of performing a Hypothesis Test (formulation of null and alternate hypothesis, selection of significance level, choosing the appropriate test-statistic, decision rule, calculation of test-statistic and conclusion) of the given data.