BUSINESS STATISTICS STUDENT ID

BUSINESS
STATISTICS
STUDENT ID:
[Pick the date]

PART A
1) The requisite data as captured in the tabular format is shown below.

2) The Excel output with regards to descriptive statistics of the above variables is pasted
below.
3) The description for each of the variables is given below.
Price
The mean price of the sample is $1,468,460. This is different from the median price of $
1,460,000. This implies that the underlying variable is not normally distributed. Also, there is
a significant skew of 1.2 present which implies asymmetric shape whereby the tail on the
right of the mean is longer than the one on the left. The dispersion in this variable seems
medium considering the measures such as standard deviation, variance and range.
Size
The mean size of the sample is 214.88 m2. This is different from the median size of 183 m2.
This implies that the underlying variable is not normally distributed. Also, there is a
significant skew of 1.25 present which implies asymmetric shape whereby the tail on the
right of the mean is longer than the one on the left. The dispersion in this variable seems high
considering the measures such as standard deviation, variance and range.
Number of bedrooms
The mean number of bedrooms of the sample is 2.96. This is different from the median
bedroom count of 3. This implies that the underlying variable is not normally distributed.

Also, there is a significant skew of 1.35 present which implies asymmetric shape whereby the
tail on the right of the mean is longer than the one on the left. The dispersion in this variable
seems medium considering the measures such as standard deviation, variance and range.
4) The requisite histogram and frequency polygon has been indicated as follows.