DSQ: Calculating range Practice Test

Our final sales figures (in millions) for the year are:

Use Excel to calculate the correlation coefficient between the month number

etc.

and the sales figure(s).

Also, compute the value for testing the confidence level for the correlation coefficient.

A real estate tycoon wants to test the hypothesis that the percentage of people who own their own home in Florida is the same as the home ownership percentage in Georgia. He states his null hypothesis as 'the Florida percentage is the same as the Georgia percentage' and the alternative hypothesis is 'the percentages are significantly different'. He decides on a 2-tailed test and he samples 400 Florida homes and 600 Georgia homes. His sample results:

Florida - 280 homeowners out of 400 (.7)

Georgia - 384 homeowners out of 600 (.64)

a percentage difference of .06

What is the lowest confidence percentage that will support his rejection of the null hypothesis? Stated another way – what is the highest percentage that will support his acceptance of the null hypothesis?