Hypothesis testing on real estate data
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STATISTICS
Tasks:
? Decide on an issue that you wish to investigate and obtain the sample data that you will use.
? Decide on 5 questions (in everyday English) that you wish to answer.
Note: At this stage, do not try to answer these questions.
? For each quantitative variable use Excel to analyze your data by
o plotting the data graphically
o calculating the summary statistics
Report
Introduce your data, questions and the results of your preliminary investigations as a brief report, memo or part of a research proposal. This should be a maximum of 2 pages and 500 words.
The report should include the following:
Introduction
Introduce your data, sample and questions. In particular, clearly describe the population and sample.
Questions
List your five questions make sure that these relate to the population and not the sample. These may be presented as bullet points.
Do not try to answer these at this stage.
Excel Output
Copy your Excel output that is, your graphs, and summary statistics table, into the report.
Interpretation
A brief interpretation of the graph/s and summary statistics, in particular;
? What do the values of the mean and standard deviation tell you about the centre and variability of your data?
? Does your data appear to be normal?
Submit your report as a Word file with Excel output embedded and include the given cover sheet as the first page. In addition, also submit your sample data as an Excel file, so that your calculations can be checked.
Notes:
? Data must include at least two related variables.
? Use Excel for all calculations. You may include your calculations in your Excel file with your sample data. However, the results of your calculations should also appear in your report.
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Solution Summary
The solution provides step by step method for the calculation of test statistic for real estate data. Formula for the calculation and Interpretations of the results are also included.
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