Statistical Analysis

Regional vs. National Housing Price Comparison Report 1




Report: Regional vs. National Housing Price Comparison

[Your Name]

Southern New Hampshire University

, Regional vs. National Housing Price Comparison Report 2


Introduction

Purpose:

Having been hired by the regional real estate company to help in determining if there is any

significant differences between the housing prices and housing square footage in our region and

the values of the national market. In this report, I seek to answer the following questions:

1. Are housing prices in our regional market higher than the national market average?

2. Is the square footage for homes in our region different than the average square footage

for homes in the national market?

3. For our region, what is the range of values for the 95% confidence interval of square

footage for homes in our market?

To answer these questions, I reviewed previous real estate data for the houses listed for 100

randomly selected counties in New England region. The sample size was reached upon using

simple random sampling technique in Excel (=RANDBETWEEN function). According to the

national market data, the mean listing prices for homes in the United States is $288,407 and the

mean square feet is 1,944 sq. ft. This study therefore seeks to test the following hypotheses:

1. Are housing prices in our regional market higher than the national market average?

H0: The mean median listing prices for houses in New England region is not significantly higher

than $288,407

H1: The mean median listing prices for houses in New England region is significantly higher than

$288,407

2. Is the square footage for homes in our region different than the average square footage

for homes in the national market?