Business Statistics: Analysis of Rent Costs and Location

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BUSINESS STATISTICS
1

Table of Contents
Question 1.......................................................................................................................................3
Question 2.......................................................................................................................................5
Question 3.......................................................................................................................................6
Question 4.......................................................................................................................................7
Question 5.......................................................................................................................................8
Question 6.......................................................................................................................................9
Question 7.....................................................................................................................................20
Question 8.....................................................................................................................................21
Question 9.....................................................................................................................................23
Question 10...................................................................................................................................24
References.....................................................................................................................................25
2

Question 1
Intervals
(Dollars)
Frequency Percentage
0-200 59 14.75%
200-250 164 41.00%
250-300 108 27.00%
300-350 56 14.00%
More than 350 13 3.25%
Total 400 100.00%
The above table explains the frequency distribution of the rent cost expressed in dollars. Highest
frequency is 41% which belongs to the class interval of 200 -250 followed by the 27% which
belongs to the 250-300 class interval.
0-200
200-250
250-300
300-350
More than
350
0 20 40 60 80 100 120 140 160 180
59
164
108
56
13
Frequency
3

0-200
15%
200-250
41%
250-300
27%
300-350
14%
More than 350
3%
Percentage
The above pie chart explains the frequency distribution in a better manner. This pie chart has
been prepared from the above prepared table depicting the frequency distribution.
4

Question 2
Bins Frequency
50 0
100 0
150 2
200 57
250 164
300 108
350 56
400 11
450 2
500 0
50 100 150 200 250 300 350 400 450 500 More
0
1
2
3
4
5
6
7
Histogram
Series1
The histogram is prepared as per the above table mentioned. There are two columns covered in
the aforementioned table. It can be clearly observed that the bin of 50 has the highest frequency
followed by the bin of value of 100 with corresponding 2 frequency (Survey Any Place, 2018).
5

Question 3
Price
Mean 248.21
Standard Error 2.37
Median 240.00
Mode 225.00
Standard Deviation 47.43
Sample Variance 2249.49
Kurtosis 0.41
Skewness 0.64
Range 285.00
Minimum 135.00
Maximum 420.00
Sum 99285.00
Count 400.00
First quartile 210
Third Quartile 270
Interquartile range 60
Coefficient of variation 19.11
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Question 4
It has been observed that the mean, median and mode vary from each other and are not similar to
each other. The mean comes out to be 248.21, whereas the median is 240. On the other hand,
mode is 225 in the given case (Pardoe, 2019). Accordingly, it can be said that all the three
measures of central tendency are not similar and there is no point of similarity between these
three measures of central tendency. However, the variation between these three measures is not
much and falls within the same range. It can also be verified from the standard deviation which
comes out to be 47.43.
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Question 5
There are four measures of variability that are mentioned in the above table. These prominently
include range, interquartile range, and standard deviation along with variance. In the given case,
value comes out to be 285, 60, 47.43 and 2249.49 respectively (Pardoe, 2019). This indicates
that there is a very thin of difference amongst these measures of differences.
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Question 6
Locatio
n
Price z
score
near 180 -1.44
near 180 -1.44
near 180 -1.44
near 180 -1.44
near 180 -1.44
near 195 -1.12
near 195 -1.12
near 195 -1.12
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 210 -0.81
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
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near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 225 -0.49
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 240 -0.17
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
10

near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 255 0.14
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 270 0.46
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
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near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 285 0.78
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 300 1.09
near 315 1.41
near 315 1.41
near 315 1.41
near 315 1.41
near 315 1.41
near 315 1.41
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