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Objectives: ISYE 330 Case 2: Hypothesis Tests

This case study involves collecting sample data from online sources and performing hypothesis tests to analyze two scenarios: sales prices of Ford Escape SUVs and rental prices of apartments in Pacific Beach. Students are instructed to collect sample data for each scenario, conduct hypothesis tests at a 5% significance level, and write a report stating the question of interest, population, data collection method, test analysis, and conclusions drawn. The deliverable is a Word document with this analysis and is due by June 17, 2021.

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Daniyal Asif
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53 views1 page

Objectives: ISYE 330 Case 2: Hypothesis Tests

This case study involves collecting sample data from online sources and performing hypothesis tests to analyze two scenarios: sales prices of Ford Escape SUVs and rental prices of apartments in Pacific Beach. Students are instructed to collect sample data for each scenario, conduct hypothesis tests at a 5% significance level, and write a report stating the question of interest, population, data collection method, test analysis, and conclusions drawn. The deliverable is a Word document with this analysis and is due by June 17, 2021.

Uploaded by

Daniyal Asif
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ISYE 330

Case 2: Hypothesis Tests

OBJECTIVES
By the end of this case, you should be able to collect data and perform hypothesis tests to answer
the questions about the population.

DELIVERABLES
The deliverables should be emailed to me by the due date. June 17-2021
• A Word Document with the following:
o Data collection and analysis based on sample data collected.

PROCEDURE
Collect data for the following scenarios, perform analysis, and create a report. Use alpha = 0.05.

Step 1 - Data Collection


Collect and analyze data for the following scenarios:
1. Sales price ($) for small SUVs
a. Site: autotrader.com
b. Model: Ford Escape
i. Collect 7 vehicles for the model (n = 7)
ii. Criteria: Years (2016-18), All wheel drive
c. Based on the sample collected, is the sales price less than $17,000?
2. Rent price ($) for 2 BR apartments
a. Site: rent.com
b. location: Pacific Beach
i. Collect 7 apartments for the location (n = 7)
ii. Criteria: 2 Bedroom, 1-2 Baths
c. Based on the sample collected, is the rent price at least $2,200?

Step 2 - Analysis
Your report should include the following information for each scenario.
• Claim
o Identify the question of interest.
• Population
• Data collection procedures
o State data collection method and list the collected data.
• Analysis
o Perform the 8-step Hypothesis Test
• Conclusions

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