Is it okay if I ask for a step-by-step for a question with multiple parts? I don't want the answers, just a guide on how to solve it myself. I especially need help with margins of error, confidence intervals, and how to do the Excel steps because I have a lot of trouble with those. If it's not okay, I'll delete the question. The assignment is in the photos and so are the National Statistics. Here is the chart for the assignment:

Transcribed Image Text:Summary Statistics n Мean Median Std. Dev. Min Q1 Q3 Маx Listing 1,000 342,365 318,000 125,914 135,300 265,250 381,600 987,600 price ($) Cost per 1,000 169 166 41 71 139 191 344 square foot ($) Square 1,000 2,111 1,881 921 1,101 1,626 2,215 6,516 feet
Transcribed Image Text:4:42 Scenario You have been hired by your regional real estate company to determine if your region's housing prices and housing square footage are significantly different from those of the national market. The regional sales director has three questions that they want to see addressed in the report: 1. Are housing prices in your regional market lower than the national market average? 2. Is the square footage for homes in your region different than the average square footage for homes in the national market? 3. For your region, what is the range of values for the 95% confidence interval of square footage for homes in your market? You are given a real estate data set that has houses listed for every county in the United States. In addition, you have been given national statistics and graphs that show the national averages for housing prices and square footage. Your job is to analyze the data, complete the statistical analyses, and provide a report to the regional sales director. You will do so by completing the Project Two Template located in the What to Submit area below. Directions Introduction 1. Region: Start by picking one region from the following list of regions: West South Central, West North Central, East South Central, East North Central, Mid Atlantic 2. Purpose: What was the purpose of your analysis, and what is your approach? a. Define a random sample and two hypotheses (means) to analyze. 3. Sample: Define your sample. Take a random sample of 500 observations for your region. a. Describe what is included in your sample (i.e., states, region, years or months). 4. Questions and type of test: For your selected sample, define two hypothesis questions and the appropriate type of test hypothesis for each. Address the following for each hypothesis: a. Describe the population parameter for the variable you are analyzing. b. Describe your hypothesis in your own words. c. Describe the inference test you will use. i. Identify the test statistic. 5. Level of confidence: Discuss how you will use estimation and confidence intervals to help you solve the problem. 1-Tail Test 1. Hypothesis: Define your hypothesis. a. Define the population parameter. b. Write null (Ho) and alternative (Ha) hypotheses. c. Specify your significance level. 2. Data analysis: Analyze the data and confirm assumptions have not been violated to complete this hypothesis test. a. Summarize your sample data using appropriate graphical displays and summary statistics. i. Provide at least one histogram of your sample data. ii. In a table, provide summary statistics including sample size, mean, median, and standard deviation. iii. Summarize your sample data, describing the center, spread, and shape in comparison to the national information. b. Check the conditions. i. Determine if the normal condition has been met. ji. Determine if there are any other conditions that you should check and whether they have been met. 3. Hypothesis test calculations: Complete hypothesis test calculations, providing the appropriate statistics and graphs. a. Calculate the hypothesis statistics. i. Determine the appropriate test statistic (†). ii. Calculate the probability (p value). 4. Interpretation: Interpret your hypothesis test results using the p value method to reject or not reject the null hypothesis. a. Relate the p value and significance level. b. Make the correct decision (reject or fail to reject). c. Provide a conclusion in the context of your hypothesis. 2-Tail Test a. Hypotheses: Define your hypothesis. 1. Define the population parameter. 2. Write null and alternative hypotheses. 3. State your significance level. b. Data analysis: Analyze the data and confirm assumptions have not been violated to complete this hypothesis test. a. Summarize your sample data using appropriate graphical displays and summary statistics. i. Provide at least one histogram of your sample data. ii. In a table, provide summary statistics including sample size, mean, median, and standard deviation. iii. Summarize your sample data, describing the center, spread, and shape in comparison to the national information. b. Check the assumptions. i. Determine if the normal condition has been met. ii. Determine if there are any other conditions that should be checked on and whether they have been met. c. Hypothesis test calculations: Complete hypothesis test calculations, providing the appropriate statistics and graphs. a. Calculate the hypothesis statistics. i. Determine the appropriate test statistic (t). ii. Determine the probability (p value). d. Interpretation: Interpret your hypothesis test results using the p value method to reject or not reject the null hypothesis. a. Relate the p value and significance level. b. Make the correct decision (reject or fail to reject). c. Provide a conclusion in the context of your hypothesis. e. Comparison of the test results: See Question 3 from the Scenario section. a. Calculate a 95% confidence interval. Show or describe your method of calculation. b. Interpret a 95% confidence interval. Final Conclusions 1. Summarize your findings: Refer back to the Introduction section above and summarize your findings of the sample you selected. 2. Discuss: Discuss whether you were surprised by the findings. Why or why not?

Question

Is it okay if I ask for a step-by-step for a question with multiple parts? I don't want the answers, just a guide on how to solve it myself. I especially need help with margins of error, confidence intervals, and how to do the Excel steps because I have a lot of trouble with those. If it's not okay, I'll delete the question. The assignment is in the photos and so are the National Statistics. Here is the chart for the assignment:

Summary Statistics
n
Мean
Median
Std. Dev.
Min
Q1
Q3
Маx
Listing
1,000
342,365
318,000
125,914
135,300
265,250
381,600
987,600
price ($)
Cost per
1,000
169
166
41
71
139
191
344
square
foot ($)
Square
1,000
2,111
1,881
921
1,101
1,626
2,215
6,516
feet

4:42
Scenario
You have been hired by your regional real
estate company to determine if your region's
housing prices and housing square footage are
significantly different from those of the
national market. The regional sales director
has three questions that they want to see
addressed in the report:
1. Are housing prices in your regional
market lower than the national market
average?
2. Is the square footage for homes in your
region different than the average square
footage for homes in the national
market?
3. For your region, what is the range of
values for the 95% confidence interval of
square footage for homes in your
market?
You are given a real estate data set that has
houses listed for every county in the United
States. In addition, you have been given
national statistics and graphs that show the
national averages for housing prices and
square footage. Your job is to analyze the data,
complete the statistical analyses, and provide
a report to the regional sales director. You will
do so by completing the Project Two Template
located in the What to Submit area below.
Directions
Introduction
1. Region: Start by picking one region from
the following list of regions:
West South Central, West North Central,
East South Central, East North Central,
Mid Atlantic
2. Purpose: What was the purpose of your
analysis, and what is your approach?
a. Define a random sample and two
hypotheses (means) to analyze.
3. Sample: Define your sample. Take a
random sample of 500 observations for
your region.
a. Describe what is included in your
sample (i.e., states, region, years or
months).
4. Questions and type of test: For your
selected sample, define two hypothesis
questions and the appropriate type of
test hypothesis for each. Address the
following for each hypothesis:
a. Describe the population parameter
for the variable you are analyzing.
b. Describe your hypothesis in your
own words.
c. Describe the inference test you will
use.
i. Identify the test statistic.
5. Level of confidence: Discuss how you
will use estimation and confidence
intervals to help you solve the problem.
1-Tail Test
1. Hypothesis: Define your hypothesis.
a. Define the population parameter.
b. Write null (Ho) and alternative (Ha)
hypotheses.
c. Specify your significance level.
2. Data analysis: Analyze the data and
confirm assumptions have not been
violated to complete this hypothesis test.
a. Summarize your sample data using
appropriate graphical displays and
summary statistics.
i. Provide at least one histogram
of your sample data.
ii. In a table, provide summary
statistics including sample size,
mean, median, and standard
deviation.
iii. Summarize your sample data,
describing the center, spread,
and shape in comparison to
the national information.
b. Check the conditions.
i. Determine if the normal
condition has been met.
ji. Determine if there are any
other conditions that you
should check and whether they
have been met.
3. Hypothesis test calculations: Complete
hypothesis test calculations, providing
the appropriate statistics and graphs.
a. Calculate the hypothesis statistics.
i. Determine the appropriate test
statistic (†).
ii. Calculate the probability (p
value).
4. Interpretation: Interpret your hypothesis
test results using the p value method to
reject or not reject the null hypothesis.
a. Relate the p value and significance
level.
b. Make the correct decision (reject or
fail to reject).
c. Provide a conclusion in the context
of your hypothesis.
2-Tail Test
a. Hypotheses: Define your hypothesis.
1. Define the population parameter.
2. Write null and alternative
hypotheses.
3. State your significance level.
b. Data analysis: Analyze the data and
confirm assumptions have not been
violated to complete this hypothesis test.
a. Summarize your sample data using
appropriate graphical displays and
summary statistics.
i. Provide at least one histogram
of your sample data.
ii. In a table, provide summary
statistics including sample size,
mean, median, and standard
deviation.
iii. Summarize your sample data,
describing the center, spread,
and shape in comparison to
the national information.
b. Check the assumptions.
i. Determine if the normal
condition has been met.
ii. Determine if there are any
other conditions that should
be checked on and whether
they have been met.
c. Hypothesis test calculations: Complete
hypothesis test calculations, providing
the appropriate statistics and graphs.
a. Calculate the hypothesis statistics.
i. Determine the appropriate test
statistic (t).
ii. Determine the probability (p
value).
d. Interpretation: Interpret your hypothesis
test results using the p value method to
reject or not reject the null hypothesis.
a. Relate the p value and significance
level.
b. Make the correct decision (reject or
fail to reject).
c. Provide a conclusion in the context
of your hypothesis.
e. Comparison of the test results: See
Question 3 from the Scenario section.
a. Calculate a 95% confidence interval.
Show or describe your method of
calculation.
b. Interpret a 95% confidence interval.
Final Conclusions
1. Summarize your findings: Refer back to
the Introduction section above and
summarize your findings of the sample
you selected.
2. Discuss: Discuss whether you were
surprised by the findings. Why or why
not?

Accepted Answer

Given Information:-

n
Mean
Median
Std.Dev
Min
Q1
Q3
Max

Listing price
1000
342,365…