Advanced Hypothesis TestingJoin now to read essay Advanced Hypothesis TestingAdvanced Hypothesis TestingTeam A:Jennifer AmbroseJeffery BrunsPaul GrovePaul MillerBrean RossiterRES 342Alexander HeilDecember 18, 2006Advanced Hypothesis TestingStatistical analysis has proved to be an essential tool towards gaining a better understanding of many business needs. Last week in John Smith’s quest of moving his home based business into an office setting he compared the mean price from the Seattle Realtor Magazine to the price information from his sample of eight office buildings. Through a t-test statistical analysis John could not conclude that the price per-square-foot for the office space in Seattle is more than $17. However, before John moves out he decides to do a little more investigation based upon a sampling of 43 prices of office space he was able to collect. This week John will formulate a hypothesis statement and perform the five-step hypothesis test on the data he collected. After completing his analysis of the 43 prices, he will be able to compare the results from his t-test to the results from this analysis.
John Smith is running a financial planning business out of his home. His primary business tools are his experience, cell phone, laptop/PC, and the den in his home. Johns clientele has grown large enough that he feels he is ready to move his home business into an office space. He read in Seattle Realtor Magazine that the mean price of leasing office space in Seattle is $17 per square foot, and that the standard deviation of the price per square foot is $2.15. If this is true, John believes he can afford to move out of his cramped den and into a new office space. John prices the listings of 43 office spaces in Seattle and found that the mean price per square foot for leasing office space to be $16.50. At the 0.05 significance level, John wants to determine if his experience is different from that claimed by Seattle Realtor Magazine. He will use the five-step hypothesis test he learned from his Research and Evaluation II course to determine the feasibility of his move. He
s a strong proponent of the concept of a small, low-carbon, non-profit housing project without any governmental planning or financing. You can view a short video with John about The Seattle Realtor Foundation below.
John Smith, Ph.D.
John’s School of Business is a research university specializing in private finance.
With over 20 years of experience, John Smith has successfully and responsibly studied the economics of financial planning to determine how the capital gains tax will impact a corporation. For over ten years, he has been working for private equity firm and private equity firm based in Seattle, Washington. His research interests include equity trading and tax-advantaged real estate, capital gains trading, tax credit and the impact of taxation and regulatory reform. John’s research in economic development has shaped his business career path. He learned at a time of economic prosperity in many locations throughout the United States and Europe, and continues to be in the process of achieving that prosperity through the success of his organization. John’s focus on developing economic development is critical for his business interests as he seeks to help a diverse city, its future, and other communities achieve successful economic growth.
John earns all levels of certification and does work in multiple non-profits. Read more about his program at https://johnsp.com/program.
John’s Education
John’s School of Business also publishes The New York Observer.