Assessment 1
Use the Florida Pool Home Data file, linked in the Resources
under the Required Resources heading, to complete the calculations for the
following scenario.
You are also encouraged to use one of the statistical
applications, such as SAS Enterprise Guide or the Microsoft Excel Analysis
ToolPak, suggested in this course. Refer to the instructions in the Resources
to activate or download the software.
Practical Application Scenario
Suppose you are a real estate agent living and working in
southern Florida. The senior real estate partner of your firm e-mails you the
Florida Pool Home Data file and asks you to find ways to use data to describe
the most important aspects of home sales. The Florida Pool Home Data file
contains the data for 80 properties, including each home’s price, size, number
of bathrooms, and niceness rating and whether the home has a pool.
Directions
Use the scenario above and the Florida Pool Home Data file
to complete the following:
Create a table in which you calculate the mean, median,
range, and standard deviation of home price and size. Then, calculate the mode
for the number of bathrooms. Label this table as “Mean, Median, Range,
Standard Deviation, and Mode Results.”
Produce a histogram that shows the number of houses by price
range, in increments of $50,000 (for example: $0–$50,000, $50,001–$100,000, and
so on). Label this histogram as “Home Price Range Histogram.”
Produce a scatter plot showing the relationship between
price and home size. Under your scatter plot, indicate whether the relationship
is positive or negative as well as whether the results are what you expected.
Label this scatter plot as “Price and Size Scatter Plot.”
Write a report for the senior real estate partner that
details your findings and recommendations about the most important aspects of
home sales.
Additional Requirements
Compile all of your answers and your report in a single
Microsoft Word file:
Paste in the table and graphics you created to demonstrate
your work.
Clearly title your table and graphics, including each row
and column. (For example, for the table in question 1, you might use the
following labeling: Row 1, Column B contains the “Mean of Home Selling Prices”;
Row 1, Column C contains the “Mean of Home Size in Square Feet”; and
so on.)
Highlight the results of your data calculations within each
table or graphic.
