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Rent in Different Cities in Australia: A Survey

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BUS708 Statistics and Data Analysis (BUS708)

   

Added on  2019-11-08

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INTERNATIONAL STUDENTS WEEKLY RENT Descriptive summary of students’ weekly rent statistics for weekly rent Mean 20 217.98992 Standard Error 17785.78627 Median 395 Mode 0 Standard Deviation 354379.2809 Sample Variance 1.25585E+11 Kurtosis 396.9994654 Skewness 19.92483878 Range 7061367 Minimum 0 Maximum 7061367 Sum 7224602 Table 3 As can be observed from the table above, the mean weekly rent in dollars is 18197.99. Rental

Rent in Different Cities in Australia: A Survey

   

BUS708 Statistics and Data Analysis (BUS708)

   Added on 2019-11-08

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Accommodation report 1Name:Institution:Date:Accommodation report on Australian cities
Rent in Different Cities in Australia: A Survey_1
Accommodation report 21.0INTRODUCTIONThis survey report is focused on giving information after an analysis about rent in different parts ofAustralia. This information is helpful to international travellers and more so international students whoseek education in various cities in Australia. It forms a basis of decision making when it comes tochoosing the type of accommodation that is suitable for any particular individual. This research dependedentirely on secondary data as it did not collect its own information. The data was sourced fromdepartment of finance services and innovation of Australia. The data had both numerical variables andnominal variables. Some of the numerical variables were bond amount in dollars and weekly rent indollars. The sample obtained for this report was not biased but large enough to representative the entirepopulation. The sample size was 400.2.0INTERNATIONAL STUDENTS WEEKLY RENTa)Descriptive summary of students’ weekly rentdescriptive statistics for weekly rentMean18197.98992Standard Error17785.78627Median395Mode0Standard Deviation354379.2809Sample Variance1.25585E+11Kurtosis396.9994654Skewness19.92483878Range7061367Minimum0Maximum7061367Sum7224602Count397Table 1As can be observed from the table above, the mean weekly rent in dollars is 18197.99. The maximum rentcharged weekly in dollars is 7,061,367b)Distribution
Rent in Different Cities in Australia: A Survey_2
Accommodation report 3The data set is skewed to the right so much. This is because it has a skewness value of 19.92. It can alsobe seen that the distribution is highly kurtic. This means that it has a very sharp apex on its curve. Thiscould be due to having very extreme high values like outliers which then affect the measures of centraltendencies of the data such as mean, mode and median. To check for the presence of outliers, a scatterplot of the data was generated and is as below;$0$1,000$2,000$3,000$4,000$5,000$6,000$7,000$8,000$0$1,000,000$2,000,000$3,000,000$4,000,000$5,000,000$6,000,000$7,000,000$8,000,000f(x) = 26.7 x − 28678.49R² = 0scatterplot for weekly rent weekly rentbondamountFigure 1As can be observed from figure 1 above, there is an extremely large value in the data set. This value is7,061,367 dollars. This value makes the measures of central tendencies such as the mean not to depict thereal picture of the data since they are adversely affected by this extreme value. Therefore the mean rentcould be much lower than what is given in the descriptive table. To get the real mean rent that can be usedas a basis of making decision for students who want accommodation, then this extreme value is omitted.3.0Rental – dwelling type
Rent in Different Cities in Australia: A Survey_3

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