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Real Estate Data: Statistical Analysis

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Does the price of homes depend on the distance from the city centre?

Perform a five-step hypothesis test on the given research question.

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Solution Summary

This solution provides the step-by-step method required for conducting a regression analysis and performing the correlation hypothesis test in Excel based on the given research question on real estate data. All of the steps for hypothesis testing (formulation of the null and alternate hypotheses, selection of significance level, choosing the appropriate test-statistic, decision rule, calculation of test-statistic and conclusion) have been explained and the regression analysis has been shown in detail. An Excel attachment file has been provided.