QRB501 WK04 DATA ANALYSIS
A) Use descriptive statistics to fill out the following tables. Use the data legend as a reference to understand the meaning of your data variables.
WHAT IS THE MOST COMMON … VALUE
SIZE
NUMBER OF BATHROOMS
DISTANCE
PRICE
FIND THE TOWNSHIO OF … TOWNSHIP VALUE
MOST EXPENSIVE HOME
HOUSES WITH MOST ROOMS
SMALLEST HOME
FOR THESE VARIABLES THE MIDDLE 50% OF THE HOUSES HAS VALUES BETWEEN … LOW END HIGH END
PRICE
SIZE
CALCULATE THE FOLLOWING STATISTIC MEAN MEDIAN STD. DEV IQR
PRICE
SIZE
DISTANCE
“ASSUMING THAT THESE VARIABLES ARE NORMALLY DISTRIBUTED.
FIND THE FOLLOWING VALUES” APPROXIMATELY 68% OF THE DATA IS BETWEEN THESE TWO VALUES APPROXIMATELY 95% OF THE DATA IS BETWEEN THESE TWO VALUES ALMOST A 100% OF THE DATA IS BETWEEN THESE TWO VALUES
Low Value High Value Low Value High Value Low Value High Value
PRICE
SIZE
DISTANCE
Analize the results of the table above an answer the following questions.
1) Your price range $175,000 to $268,000. Base on this data, what is the approximate chance that you find a house in your price range?
Ans:
2) You want to leave no closer than ~ 5 miles from the center of the city but no further than~24 miles.
What is the approximate chance that you find a house in that distance range from the center of the city?
Ans:
