The Data
The real estate markets, around the United States, havebeen drastically changing since the housing crisis of 2008. Manyexperts agree that there has never been a time where the market wasso friendly to low interests rates and home prices for prospectivebuyers. Your task, in this project, is to investigate the housingmarket in the county that you current reside.
Objective 1 (35 points)
Using the website, www.zillow.com, randomly select 35homes and record the price of each home. In the space below,clearly define how you randomly selected these homes and provide atable with the home costs you selected.
Answer= I selected these homes in the area code fromwhich I reside within a 25 mile radius. The homes selected were theones listed as the newest houses on zillow.
$99,900 | $149,800 | $382,900 | $335,900 | $475,000 | $140,000 | $299,000 |
$199,000 | $79,990 | $150,000 | $125,000 | $489,000 | $389,900 | $199,900 |
$389,000 | $289,900 | $79,900 | $382,000 | $279,900 | $249,900 | $274,500 |
$475,000 | $285,000 | $235,000 | $362,000 | $162,300 | $595,000 | $149,000 |
$64,900 | $165,000 | 249,900 | $589,000 | $489,900 | $575,000 | $229,900 |
Objective 2 (20 points)
• Compute the following:
The average home price for your sample
The standard deviation home price
• Using complete sentences, define the random variable.
• State the estimated distribution to use. Use completesentences and symbols where appropriate.
Objective 3 (20 points)
Respond to each of the following
• Calculate the 90% confidence interval and the marginof error.
• Interpret this confidence interval.
Objective 4 (25 points)
Using your data set, calculate four additionalconfidence intervals and margins of error at the levels ofconfidence given below:
• 50%
• 80%
• 95%
• 99%
What happens to the margin of error as the confidencelevel increases? Does the width of the confidence interval increaseor decrease? Explain why this happens.
