Reference no: EM132280418
Assignment: Descriptive statistics
Background
Rental costs are significant part of the overall cost of a University education for many international students. The student union at a large citybased university is concerned about the affordability of reasonably priced student housing. They take a survey of one bedroom accommodation within half an hour's travelling time to the campus. In the survey, data of the weekly rental cost (in dollars), and the location of the property were collected. The locations of properties are in two categories, "near" which contains properties which are in the same area, and "other" which are not in the same area of the university, but are within 30 minutes by public transportation.
Questions
Question 1
When student search for a rental property, it is useful to divide the properties into different categories according to the weekly rent as shown in the following table.
Intervals (dollars)

Frequency

Percentage

0 to 200



Over 200 to 250



Over 250 to 300



Over 300 to 350



Over 350



Find the frequencies and percentage associated with these 5 categories. Create a bar chart of the frequencies associated with these 5 categories and a pie chart of the percentage associated with these 5 categories. Briefly discuss the table and chart.
Question 2
Construct a histogram of the weekly rents. Briefly state what the histogram is telling us about the distribution of the weekly rent. To construct the histogram, you should obtain the frequency of the weekly rental cost for each category as shown in the table.
Intervals

Frequency

0 to50


Over 50 to 100


Over 100 to 150


Over 150 to 200


Over 200 to 250


Over 250 to 300


Over 300 to 350


Over 350 to 400


Over 400 to 450


Over 450


Question 3
Using excel to find the descriptive statistics for the weekly rents. Give your answers in this table to two decimal places.
Table Descriptive statistics of weekly rents
Mean


Standard Error


Median


Mode


Standard Deviation


Sample Variance


Kurtosis


Skewness


Range


Minimum


Maximum


Sum


Count


First quartile


Third quartile


Interquartile range


Coefficient of variation


Question 4
Briefly comment on the three measures of central tendency given in the table. Comment on the distribution of the weekly rent.
Question 5
Briefly comment on the four measures of variability given in the table.
Question 6
Calculate the z scores with excel function, and calculate the descriptive statistics of z score, comment on the mean and standard deviation of z score.
Question 7
Any value with Z score less than 3.0, or greater than +3.0 is classified as outliers. Identify the outlier in the dataset if there is any outlier? Compare the data analysis results with and results without outliers. Comment on the change of central tendency, variation, and the distribution.
Question 8
The weekly rent of property "near" and "other" could be quite different in many aspects. Therefore, the analyst decided to analyse the data separately for the properties "near" and "other"
Create histogram for both "near", and "other". Briefly state what the histogram is telling you about the shape of the two distributions.
Question 9
Calculate the descriptive statistics for both "near" and "other".
Question 10
Discuss and compare the central tendency and variation of the properties "near" and "other".
Attachment: Assignment Data.rar