Assignment Concerning the Weekly Rents Paid by Students in a Residential Area

Student name:
Course:

SECTION 1
This assignment is concerned with the weekly rents paid by students, with an aim to
guide them towards the best possible property depending on other factors like type
of dwelling( flat/house), number of bedrooms, suburb, and bond amount paid along
with the rent.
This assignment uses both primary and secondary data. The primary data consists
of online questions and face to face questioning of international students. The
sample is very limited, and has only 5 responses. Its use is limited for this reason,
along with lack of data on other parameters.
The secondary data is taken from Rental Bond Board Property Data, published by
the Department of Finance, Services and Innovation. It has a sample size of 500 and
is rich in terms of information on other parameters as well as shown below for the
first 5 datapoints.
BondAmo
unt
WeeklyR
ent
DwellingT
ype
NumberBedr
ooms
Postcod
e
Suburb
$3,480 $870 Flat 2 2000 SYDNEY
$2,600 $650 Flat 2 2031 RANDWICK
$1,760 $440 Flat 2 2144 AUBURN
$400 $400 Flat 2 2150 PARRAMATTA
$2,000 $500 House 3 2144 AUBURN
SECTION 2
Using dataset 1, the descriptive statistics are as follows:
weekly rent
Mean 141
Standard
Error 17.63519209
Median 125
Mode #N/A
Standard
Deviation 39.43348831
Sample
Variance 1555
Kurtosis -0.073355321
Skewness 0.883085738
Range 100

Minimum 100
Maximum 200
Sum 705
Count 5
The data shows a mean of $141, while median is lower at $125. The same is shown
below in a bar chart. The highest rent is for student 3 at $200 and the lowest is
$100 (just halve of the highest . The range is thus 200-100 =100. This is relatively
high. The data is a little skewed in the positive direction as shown by a value of
0.88. for more detailed analysis and inferences we need a larger sample.
SECTION 3:
a. We first consider the data on Dwelling Type only. The table below shows a 2*2
classification across suburbs and type of dwellings. The dominance of flats- 473/500
is clear. Almost 94.6% students live in flats. Within suburbs, Parramatta dominates
the sample. (164/500). Sydney stands out as there are no students living in a
house here.
Row
Labels Flat House
Grand
Total
AUBURN 47 14 61
PARRAMAT
TA 156 8 164
RANDWICK 123 5 128
SYDNEY 147 147
Grand
Total 473 27 500