In the words of the problem, give a practical interpretation of this interval.

QMB 2100 Project For Module 3

DATA Set: Indicate one:       Automobiles     Homes      Apartments

Directions: Fill in the answer to the questions posed below. Attach the specified printouts where indicated and upload the project in Canvas on or before November 10^th at midnight. Please give specific interpretations as generic answers will not receive full credit.

1. Copy and paste a printout for a 92% confidence interval for the mean size/mileage of all automobiles/homes/apartments (you will show one confidence interval using a 75 cases) in the space provided below. Answer the following questions regarding this printout:

2. In the words of the problem, give a practical interpretation of this interval.
3. Give a theoretical interpretation of the interval (i.e., explain what we mean when we say we are “92% confident.”
4. Is the sample size for this problem considered large? Why or why not?
5. Copy and paste a 90% confidence interval for the mean price of all automobiles/homes/apartments from model/location 1 in the space provided. Answer the following questions regarding this printout:

• What assumptions are necessary for this confidence interval to be valid? Make sure you use the words of the problem when stating these assumptions.

1. Pick the claim based on your data set:

The mean price of all model 1 automobiles is $10,000.

The mean price of all location 1 homes is $250,000.

The mean rent of all location 1 apartments is $1,200.

Based on the interval you created, make a statement regarding my claim.

1. Is the sample size for this problem considered large? Why or why not?

3. TESTS OF HYPOTHESIS: Use Statistix to create a printout to conduct the appropriate test for the data set you worked with: Use only model/location 3 in this analysis.

Apartment Data Set: Test to determine if the average size differed from 750 square feet.

Automobile Data Set: Test to determine if the average mileage differed from 30,000 miles.

Home Data Set: Test to determine if the average size of the home differed from 1,800 square feet.

Copy the results here and answer the following questions.

1. State the null and alternative hypotheses that are being tested with the specified test.

H_o:

H_a:

1. Identify the test statistic and p-value you will use in this test of hypothesis

Test Statistic:  ____________                    P-value:  ___________

1. What assumption(s) is/are necessary for this analysis to be valid? Make sure you state your answer in the words of the problem

1. Make a conclusion for the test of hypothesis conducted above. You should choose alpha.