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:
1. 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.”
2. 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.”
3. 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.”
4. 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.
