Data Analysis for Business Decisions Essay

8 Pages1401 Words228 Views

Added on 2020-06-04

Data Analysis for Business Decisions Essay

Added on 2020-06-04

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DATA ANALYSIS FOR BUSINESSDECISIONS

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Evaluate the quality and fit of data for use in business analysis.....................................................1Create a summary table for examining data for use in business analysis....................................1Apply descriptive statistics techniques to accurately compute mean, median, mode, range, andstandard deviation........................................................................................................................2Analyze business decision opportunities using descriptive statistics..............................................2Analyze data in a prepared histogram to use in decision making....................................................3Analyze data in a scatter plot to use in decision making.................................................................4Management report..........................................................................................................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6Table 1Descriptive statistics............................................................................................................1Table 2Calculation of mean, median and mode..............................................................................2YFigure 1Price range of homes..........................................................................................................3Figure 2Scatter plot..........................................................................................................................3

Data Analysis for Business Decisions Essay_2

INTRODUCTIONReal estate is the one of the growing sector and in the current report same is analysed in propermanner. In this regard, descriptive analysis tools are applied on data sets and same are analyzed.Apart from this, in order to understand relationship between variables scatter diagram isprepared. All findings are prepared in management report and in this way entire work is carriedout.Evaluate the quality and fit of data for use in business analysisData quality is good as it can be observed that there is no missing values in data set andsufficient number of variables are there in data set by using which analysis can be done in bettermannerCreate a summary table for examining data for use in business analysisTable Descriptive statisticsPrice ($1000s)Size (SquareFeet)Number ofBathroomsMean253.32125Mean2812.5125Mean2.675Standard Error4.160524513Standard Error32.4733386Standard Error0.054902099Median249.7Median2799Median2.5Mode290.8Mode2666Mode2.5Standard Deviation37.21286253Standard Deviation290.4503702Standard Deviation0.491059304Sample Variance1384.797138Sample Variance84361.41756Sample Variance0.241139241Kurtosis0.010337826Kurtosis0.388886192Kurtosis0.611297067Skewness0.267245968Skewness0.049042143Skewness0.967019084Range177.4Range1453Range2Minimum166Minimum2032Minimum2Maximum343.4Maximum3485Maximum4Sum20265.7Sum225001Sum214Count80Count80Count80Reults are reflecting that minimum price of property is $166,000 and maximum value is$343000. As this reflect that there is huge gap in price range and it can be said that people | P a g e

Data Analysis for Business Decisions Essay_3

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Data Analysis for Business Decisions Essay