Why do surveys need to be valid and reliable? Can you provide examples from work or past experience, of surveys that are reliable but not valid?
If I am interested in buying a house or renting a property for myself or my family, looking at the descriptive statistics parameters like mean, median, standard deviation and range can be absolutely useful to ascertain whether buying a house at this stage is beneficial or should I defer my decision for a later point of time. Variance or variability in housing market can also be particularly useful, as it will give an idea of the resale value and time ...
The solution examines descriptive statistics for a local housing market. The central tendency is found.