Relevant central Tendency Assignment

Added on - Jun 2021

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Question 4Based on the relevant central tendency measures such as mean and median, it is apparent thatthere exists significant difference in the weekly rent. The weekly rent in the Auburn suburb isabout $ 459 while the comparable amount for Hurstville is $ 625. Similarly, Paramatta hasalso average weekly rent of 544. This represents significant difference in weekly rent basedon suburb. Also, the dispersion tends to vary amongst the different suburbs with the leastvalue observed in Hurstville where dispersion is comparatively less. This is the highest incase of Auburn suburb (Flick, 2015).Question 5The relevant hypotheses are as highlighted below.Null Hypothesis: p1= p2Alternative Hypothesis: p1> p2P1denotes the proportion of premium rent properties with dishwasherP2denotes the proportion of lower rent properties with dishwasherIn order to estimate whether the null hypothesis can be rejected or not, the p value approachhas been used. The relevant test statistics would be z. The test has been performed in exceland the relevant screenshot is attached below.From the above computation, p value = 0.5516
Assuming the level of significance as 5%, it is apparent that since p value is greater, henceavailable evidence is insufficient to reject the null hypothesis and accept the alternativehypothesis (Eriksson and Kovalainen, 2015). Hence, it may be concluded that the twoproportions do not differ and the claim of the industry report is incorrect.Question 6The relationship between the rent of two bedroom apartments and the easy access to publictransport can be highlighted using a scatter plot which is suitable considering that both thevariables have numerical values. The relevant scatter plot is indicated below.It is apparent from the above scatter plot and the line of the best fit that the associationbetween the two variables is negligible. This is evident from the value of R2which has comeout as 0.0017. This highlights that easy access to transport accounts for only 0.17% of thevariance of the weekly rent. Hence, it is clearly insignificant. The slope of the linearregression line would be insignificant as the p value would be greater than 0.05 or the level ofsignificance (Hair et. al., 2015).Question 7
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