Descriptive Statistics – Real Estate Data

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Descriptive Statistics – Real Estate Data

Select a hometown of someone on your team in the search section on the website you have chosen. When all of the listings populate, make sure that the sort criteria reads “New Listings.” This ensures that you are searching a random cross-section of listings rather than favoring one price range.

Review the new listings that populate.

Create an Excel® spreadsheet with 4 columns of the first 100 single family homes listed, not including condominiums or townhouses.

Include each of the following categories in the spreadsheet: Property address, listing price, square footage, and number of bedrooms.

Prepare a frequency distribution for listing prices, including relative frequencies.

Create your frequency distribution as identified in Chapters 2, 3, and 4.

Generate a histogram from your frequency distribution, again making sure you are consistent with the rules discussed in Chapter 2.

Summarize your findings from your frequency distribution and your histogram.

Create either a pie chart or a bar graph of the number of bedrooms in your 100 homes.

Evaluate your visual aid.

Calculate measures of central tendency for both listing prices and square footages. Those measures are mean, median, and mode.

Determine the quartiles for both listing prices and square footages.

Calculate measures of dispersion for both listing prices and square footages. Those measures are range, variance, and standard deviation.

Apply Chebyshev’s Theorem and the Empirical Rule to both sets of data.

Compare your findings with your actual data.

Conclude whether Chebyshev’s or Empirical Rule is more accurate with each of listing prices and square footages.

Format your assignment consistent with APA guidelines.