Real Estate Data: Statistical Analysis using EXCEL
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Assume you are researching about housing in a neighborhood encompassed by 5 townships in the attached Real Estate Data Set (Excel). Evaluate if the distance from center of town the homes are located creates a positive, negative or neutral change in the price of the home.
Data analysis using descriptive statistics (Excel)
1) Calculate the measures of central tendency, dispersion, and skew for data
2) Display your descriptive statistical data using graphic and tabular techniques
a) Line graph
b) Bar graph
3) Based on your measures of central tendency and graphs, discuss the best measures of central tendency and dispersion of your data. Justify selection
4) Is there a relationship between sales price and how far the distance of the home is from the center of the town?
b. Conclusions
Prepare a paper examining the data collected, and drawing conclusions based on findings.
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Solution Summary
The solution provides a detailed analysis of real estate data and includes scatter plots, line graphs, bar graphs/histograms and descriptive statistics and measures of central tendency (mean, median, mode, variance, dispersion, skewness etc). The solution also includes detailed discussion regarding the best measures of central tendency and dispersion of the given data. The linear relationship (mathematical equation) between the variables of the line graph has also been shown.
Education
- MSc, Osmania University
- MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
- BSc, Banaras Hindu University
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