Project 1 (12 points), due date Wednesday November 9th

Topic: Hypothesis Test

Data: Data is provided by an excel file named “RealEstate”, Sale Value of a Real Estate

Description: Company A has a Real Estate Portfolio in their possession. Company B wants to
buy it. However before buying it, they want to check the reliability of what Company A is
saying. Let’s assume following scenarios:

- Company A is saying, that average value of Real Estate from their portfolio is equal to
165,000 USD;
- Company A is saying, that average value of Real Estate from their portfolio less or
equal to 165,000 USD;
- Company A is saying, that average value of Real Estate from their portfolio more or
equal to 165,000 USD;

Your company asked you to conduct a statistical research and provide an answer for the
management separately (using statistical program of your choosing or by hand).

Project Requirements:

You are given a sample of values of 1000 real estates from the portfolio. They have been
chosen randomly.

Your job is, for each scenario:

- Check the assumptions for the research;

- State the hypothesis;
- Choose tools for testing the hypothesis;
- Test hypothesis;
- State decisions based on the results of hypothesis

Statistical software packages can be used to provide summaries and/or visual presentations.
Such as: Excel, Minitab, SPSS, SAS, etc. Or can be done by hand, with mathematical
calculations.

To get full credit:

Student must provide 2 sets of files:

- Word document, that has graphs and statistician summaries necessary to analyze
the data. Word document needs to have Introduction (describing the task and
hand, goals of the project); Analysis (detailed analysis of tools used, or necessary
steps taken), Conclusion (short summaries of what we have learned from the
analysis);
- Save files. You need to provide results of software packages used (save files). File
should include entered variables, with appropriate names and descriptions. Note:
If one chooses to do it by hand, needs to provide photos of calculations.