One Sample Hypotheses Test

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Category: Business and Industry

Date Submitted: 05/18/2011 03:41 PM

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D real estate Corp recently had a significant increase in the purchasing demand for  new homes, this new demand has raised several concerns for the management such as the type of homes should be built, the design that will most likely be  preferred by customers, more specifically, the number of  bedrooms, number of floors as well as if the new home should or shouldn’t include pool.  The Management at D real estate Corp looking forward to have clear understanding of the new homes demand, this clarity will help them to provide their customers the satisfaction as well as ensuring the success to sell the new built homes. From the data set, the research department at D real estate Corp will formulate both a numerical and verbal hypothesis statement of the sold homes to have clear understanding for the new demand,  then they will perform five-step hypothesis test on the pertained data and finally will describe the results and issue specific recommendation of future projects.

Numerical and verbal hypothesis formulation :

Upon Team D’s review of the provided data set for real estate there seems to be a significant increase in sales associated with home ranging from $184K to 231K. When the data set is arranged in terms of price in ascending order there is defiantly a significant, increase in sales. The on going question that will be focused upon is whether there is a single reason as to why the increase in home sales has taken place. When the price median is passed and the prices start to fall in the range of $254K there is a definite significant decrease in sales.

Therefore, Team D has established that there is defiantly a potential possibility that the mean of the increase of sales is associated to a certain range in pricing for the homes being sold. The agents of the real estate firm must be made aware that there is a strong possibility that if their sales efforts are focused on the aforementioned price ranges they may then keep the on going progression of growing...