INSTRUCTIONS TO CANDIDATES You should use Excel to carry out all calculations and statistical analyses. To get started with Excel, see the instructions on page 13 of the textbook. To complete this assignment, you must provide the Excel outputs for each of the questions in a report. Your assignment submitted must be typed and word-processed. The maximum number of pages for each submission is six (6), not including the cover page. No mark will be given if the number of pages exceeds the limit. The assignment is to be submitted in Week 13 in your tutorial class. Any late assignments will be penalised 10% of the total mark per day Question1234TOTALMark A study was commissioned to investigate the characteristics of properties that are for sale. Data was collected on 60 houses and the following variables recorded. Column 1ValueValue of house in thousands of dollars Column 2Lot sizeSize of the property Column 3BedNumber of bedrooms in house Column 4BathNumber of bathrooms in house Column 5RoomsTotal number of rooms in the house Column 6AgeAge of house in years Column 7FireplaceNumber of fireplaces Question 1(1 + 1 + 1 + 1 = 5 marks) For the variable Value find the a) mean, b) median, c) range, d) standard deviation and e) variance. Question 2 (4 marks) Estimate with 95% confidence the average age of a house. Question 3 (5 marks) Using an appropriate hypothesis test, at a 5% level of significance, can you conclude that there is any difference between the average value between houses that have a fireplace (Fireplace = 1) and houses that don’t have a fireplace (Fireplace = 0)? Question 4 (1 + 1 + 4 = 6 marks) Estimate the regression equation to predict the Value (y) from the number of Rooms (x). Determine the coefficient of determination and interpret its value. Does the data provide evidence that the slope of the equation from part a) is positive? Perform an appropriate hypothesis test using...
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here