Premium Essay

Descriptive Statistics

In:

Submitted By parishouston1969
Words 1999
Pages 8
Descriptive Statistics
University of Phoenix
July 18, 2011
RES/341

Descriptive Statistics
In the previous weeks we researched the issues that have been affecting the real estate business; such as home prices in which are making it difficult for homes to sale. The current issues that are affecting the housing market in today’s society have to do with homes being over priced due to size, location, and square footage. In the past weeks Learning Team C had to research the problems in the housing market to determine the reasons why homes that are similar in size tend to be more expensive than others and the factors that go into these prices. The research problem that Learning Team C encountered has to do with looking at: 1. Price, 2. Bedrooms, 3. Size, 4. Pool, 5. Distance, 6. Township, 7. Garage, and 8. Baths, to determine why some of the listed homes are more expensive than others homes in the area. In week three we turned the research over to researching peer-reviewed articles to get an even clearer picture of the whole aspect of real estate, which included; faulty work from appraisers, estimating value of homes, and how size play a major role in the price of a home. Moving on into week four, Learning Team C will evaluate all the data from the previous weeks and draw a conclusion based on all current research finding of why similar homes tend to be more expensive than others.
Frequency Distribution
The following graphics and data analysis will identify the factors important to buyers that may provide answers to why size, distance, bedrooms, garage size, and township are the most popular. The figure above together with the descriptive statistics table provides a view of the frequency, central tendency, dispersion, and skew for the house prices in the real estate dataset. The graph above indicates houses range in price from $150,000 to $350,000.

Similar Documents

Premium Essay

Descriptive & Inferential Statistics

...Descriptive and Inferential Statistics Presentation Tony Roberson, Amani Wilson, Deandra Cobb, and Lysa Satterwhite PSY 315 November 11, 2013 Melinda Waife Descriptive and Inferential Statistics Presentation Click on link below to review Team D’s presentation. http://prezi.com/sz-i9ukpbarl/?utm_campaign=share&utm_medium=copy Tony’s Presentation Speaker Notes: Introduction: Please review Prezi Source: Flickr User "unity_creative" To understand the simple difference between descriptive and inferential statistics, all you need to remember is that descriptive statistics summarize your current dataset and inferential statistics aim to draw conclusions about an additional population outside of proposed data (eCaro, 2003). Deandra Statistics in Psychology and its function cannot be taken lightly. The importance ofthe development of psychology would not have been realized if statistics did not play such a crucial role. Important components such as inferential statistics and interactions are dynamic in the study of associations, and affiliations that are essential in psychology.Statistic is the exact phenomenon of nature and it helps in providing a better understanding. Statistics helps in the effectiveness and planning of statistical analysis in any field of study. Furthermore, helps in applicable quantitative data and in presenting complex data in a suitable level, diagrammatic and graphic form for a clear comprehension of the data. Amani Wilson Speaker Notes...

Words: 464 - Pages: 2

Premium Essay

Descriptive and Inferential Statistics

...Descriptive and Inferential Statistics PSY/315 Statistical Reasoning in Psychology September 21, 2013 Dr. Nancy Walker Descriptive and Inferential Statistics Statistics is “a branch of mathematics that focuses on the organization, analysis, and interpretation of a group of numbers” (Aron, Aron, & Coups, 2009, p. 2). However, just the mention of statistics makes people nervous, although when properly understood, many of the questions statistics tries to answer are very provocative and challenging. Statistics are a collection of information and, data that helps test the theory something is happening or will happen again. The functions of statistics are there to help researchers have a better understanding of a phenomenon. Statistics can be used when looking for the truth, if you have ever had a hunch about something, was it confirmed? Yes the hunch was confirmed. Statistics help researchers with data by using math and working with a group of numbers. Statistics studies variables, characteristics that have different values, values, possible number that a score can have, and score one person value of a variable (Aron, Aron, & Coups, 2009). Descriptive and inferential statistics are to evaluate results and enable one to make a conclusion. Descriptive statistics are a way to describe data (Laird Statistics, 2013), as well as to “summarize and describe a group of numbers from a research study,” whereas, inferential statistics are used to “draw conclusions and...

Words: 1507 - Pages: 7

Free Essay

Descriptive Statistics

...and the mean for extrinsic by gender. Overview of the Data Set Using probability within an organization can be beneficial because it let the organization know if there are room for improvements (Stephanie, 2010). The data that was used for this current probability report were the qualitative variables gender and quantitative variable extrinsic. The probabilities below show the probability for gender, employee’s tenure with the company, and the percentage of employees that are in different departments. Use of Statistics and Probability in the Real World We us probability in our everyday lives we are just un-ware of when it’s being used such as when watching the new and the weather man says there is a 90% chance (probability) that it will rain. When bets are made the person making the bet estimates the probabilities of a teaming winning, also when flipping a corn there is 50/50 chance (probability) of getting tails or heads on the corn toss. In school statistics are used for test scores such as the average score on test is 75% out of 100% for a group of 60 students. We can generalize...

Words: 817 - Pages: 4

Free Essay

Descriptive and Inferential Statistics

...Descriptive and Inferential Statistics Statistics are all-around and used in everyday life. Statistics are used to describe how effective a medication is for a certain disorder to what the most popular color is in the United States. According to Aron, Aron, and Coups, 2009, “statistics is a method of pursuing truth. As a minimum, statistics can tell you the likelihood that your hunch is true in this time and place and with these sorts of people” (p. 2). Psychologist use two branches of statistics to summarize his or her results and those are descriptive and inferential statistics. This paper will discuss the function of statistics, what descriptive and inferential statistics are, and the relationship between descriptive and inferential statistics. Statistics are used in almost every branch of study and is found behind the scenes in many of our normal daily activities. From economic to scientific studies, statistics are utilized in one way or another. Statistics are an essential part of understanding information and expanding knowledge base and is encompasses almost all aspects of enquiry ("7 Most Essential Functions Of Statistics", 2012). Statistics have many functions that we utilize;statisticsprovides for a better understanding of phenomenon of nature and helps in proper and statistical planning in all forms of study. Using statistics helps in collecting useful quantitative data and also aids in presenting difficult or confusing data in an understandable way. Statistics facilitate...

Words: 1232 - Pages: 5

Premium Essay

Descriptive and Inferential Statistics

... an analyzer will incorporate both descriptive and inferential statistics to evaluate his or her results and create a credible conclusion. Descriptive statistics provides information focused on an immediate group of data. After defining what needs to be analyzed, the descriptive statistics will help the analyzer abridge the data to a more meaningful and comprehendible form, which will then provide patterns in his or her research that, will provide a foundation to his or her thesis. For example, a person could use descriptive statistics to evaluate the answers on an exam taken by 400 American students, and use descriptive statistics to determine the overall performance of the 400 students at that school. By using descriptive statistics, the analyzer can use his or her findings, to provide useful information regarding which subjects students need to improve most in, and which minority group or grade level are grasping the educational tools provided at the school more effectively, then those not grasping the provided educational tools and still need more room for improvement. While descriptive statistics helps an analyzer assess an immediate group of data from a single population, inferential statistics allow an analyzer to collect data using bits and pieces of samples which are portions of a collection of data focusing on the group or population of interest in which the analyzer research is concentrated on at the time. Inferential statistics will allow the analyzer to create a...

Words: 699 - Pages: 3

Premium Essay

Examples Of Descriptive Statistics

...Descriptive Statistics Introduction: Descriptive Statistics is the utilization of mathematical quantities to make clearer and to same time sum up the characteristics of a sample from a set of data, without making any interference to the overall characteristic of the population from which the sample was taken from (BD, 2017). There are several numerical summary measures that help us to make quantitative description of values as a whole in a data set, they are broadly placed into two main groups mainly centre of frequency and dispersion distribution (Pagano and Gauvreau, 2000). The mode, mean and the median are some of the mathematical measures used to arrive at the centre of frequency distribution, in descriptive statistics (Fields, 2013, pp....

Words: 893 - Pages: 4

Premium Essay

Descriptive Statistics Paper

...Introduction In this paper the authors will analyze the Whitner AutoPlex data using descriptive statistics. Team D will use these statistics to calculate the measures of central tendency, dispersion, and skew the data. Team D will also display the descriptive data using graphic and tabular techniques. A frequency distribution tablet and a histogram style graph will illustrate the Whitner AutoPlex data set in measuring terms. Based on skew value and histogram, a discussion of the best measures between central tendency, and dispersion will be included. Central Tendency, Dispersion and Skew The best measures of the central tendency and dispersion data are that by seeing how the order of our information tends to be that the older the consumer the cheaper are the vehicles purchased by them. With this data we can market our sales to the younger consumer because he or she tends to spend more. The tendency in this could be because older people value their money a bit more and are less willing to spend it as much as younger individuals. As a result we can look to market our advertising to a younger audience and design items that a younger audience would be willing to buy and spend money on. By using this data we should be able to maximize profits while attracting a more diverse spectrum of customers at the same time. We can continue to produce items for the population interested in purchasing currently. Information gathered from a whisker box graph shows the same age grouping...

Words: 282 - Pages: 2

Free Essay

Descriptive Statistics

...Chapter 2 Descriptive Statistics: Tabular and Graphical Methods Summarizing Qualitative Data Summarizing Quantitative Data Exploratory Data Analysis Crosstabulations and Scatter Diagrams Summarizing Qualitative Data Frequency Distribution Relative Frequency Percent Frequency Distribution Bar Graph Pie Chart Frequency Distribution A frequency distribution is a tabular summary of data showing the frequency (or number) of items in each of several nonoverlapping classes. The objective is to provide insights about the data that cannot be quickly obtained by looking only at the original data. Example: Marada Inn Guests staying at Marada Inn were asked to rate the quality of their accommodations as being excellent, above average, average, below average, or poor. The ratings provided by a sample of 20 guests are shown below. Below Average Average Above Average Above Average Above Average Above Average Above Average Below Average Below Average Average Poor Poor Above Average Excellent Above Average Average Above Average Average Above Average Average Example: Marada Inn Frequency Distribution Rating Frequency Poor 2 Below Average 3 Average 5 Above Average 9 Excellent 1 Total 20 Relative Frequency Distribution The relative frequency of a class is the fraction or proportion of the total number...

Words: 2138 - Pages: 9

Premium Essay

Descriptive and Inferential Statistics Paper

...Descriptive and Inferential Statistics Paper Terrance Douglas, Katie Faiman, Marika Schlindwein, Christyl Schoultz, & Samantha Sisk PSY/315 February 3, 2013 Dr. Deborah Suzzane Descriptive and Inferential Statistics Paper Have you ever noticed that we just keep moving forward? There are countless, unseen individuals who make this happen each day, but how do they operate? How do they accomplish all of this? We live in a complex world. Behind the scenes, researchers are steadily developing new theories and testing their outcome. For them, statistics serves a very different purpose. In the next few paragraphs, the role of statistics is explained as their role in the psychological community. Statistics itself is then further subdivided into two different methodologies; descriptive and the inferential (Aaron & Aaron & Coups, 2009). Each method utilizes data for a different purpose, and in each method, data may be gathered differently. Lastly, an example of each of the two types of statistics which helps the reader to distinguish clearly between the descriptive and inferential types of statistics which researchers use to conduct their work. It will further be shown how the two methods of statistics relate to each other in research. It is by understanding the two different roles of each of these types of statistics that researchers are able to gather meaningful data, which is testable and provable and keeps us on a forward moving trajectory...

Words: 1193 - Pages: 5

Premium Essay

Descriptive and Inferential Statistics Paper

...Descriptive and Inferential Statistics Paper Casie Thibeault PSY/315 July 27, 2013 Michelle A. Williams, PhD Descriptive and Inferential Statistics Paper The very word “statistics” seems to produce anxiety in most students - anxiety produced from its connection to mathematics. The first step in controlling anxiety is to understand the connection and just how useful statistics can be for comprehending information that has been gathered. A statistic is a representation of information, and its function is to help researchers either to organize, summarize, or understand data. The ability to describe data is essential when gathering statistics. Statistics can be broken down into two basic types: descriptive statistics and inferential statistics. Descriptive statistics are a summary of information that makes the data presented more easily understood. The descriptive method is limited to only the population in which the researcher is dealing with, and only describes that particular group (Purdue OWL, 1995-2013). Inferential statistics offers a more detailed conclusion regarding the hypothesis. A benefit of the inferential method is that it can be used to take a broader view of populations, making it possible to draw conclusions about sizeable groups of people (Purdue OWL, 1995-2013). In a nutshell, the simple way to distinguish between the two would be that descriptive statistics summarize and inferential statistics draw conclusions. Both descriptive and inferential...

Words: 1196 - Pages: 5

Premium Essay

Descriptive Statistics Analysis Study

...INDIAN INSTITUTE OF MANAGEMENT KOZHIKODE- KOCHI CAMPUS, INFOPARK, KAKKANAD, KOCHI- 30 Descriptive Statistics Analysis Study Submitted by, Rakesh Krishnan S, EPGPKC02-WEB076 Analysis on ITC Sun feast sales figures: ITC made a foray into the biscuits market by launching the Sunfeast range of biscuits in 2003. Since then, Sunfeast biscuits have always stood for quality and are known for offering innovative and wholesome biscuits. Within a span of 11 years, Sunfeast has well-established presence in almost all categories of biscuits. The data provided for analysis is the sales figures of Sunfeast biscuits in Kerala region as a whole, for a span of 3 years. The analysis has been done using quantitative methods and also performed hypothesis testing for a sample of data taken from the three years sales data. The population data consist of 36 sales figures taken for the years 2011-13 Below is the snapshot of the overall sales distribution (in tonnes) for Sunfeast for a span of three years: Below is the descriptive analysis done on the population data, consisting of three years sales figure from 2011-13 FY’s. Descriptive Statistics for Population Data |   |   | Mean | 1260613.249 | Standard Error | 31342.14415 | Median | 1262395.307 | Mode | #N/A | Standard Deviation | 188052.8649 | Sample Variance | 35363880006 | Range | 679897.672 | Minimum | 859243.22 | Maximum | 1539140.892 | Sum | 45382076.95 | Count | 36 | Mean and Standard Deviation: ...

Words: 1000 - Pages: 4

Premium Essay

Bims Descriptive Statistics

...Using the BIMS Part I data, Team C presents various descriptive statistics in the forms of frequency distribution table, measures of mean, median, mode, standard deviation, and graphical display of data. The first table is a frequency distribution table of one quantitative question in the BIMS data. Team C finds that the majority of the 78 respondents have between 0 to 20 months service with BIMS. The second highest group has between 40 to 60 months service with BIMS. The lowest frequency of one appears in five of the 17 classes. The classes with the lowest frequency of one are 120 < 140, 140 < 160, 240 < 260, 260 < 280, and 320 < 340. After summarizing the months of service per respondents, Team C focuses on the gender, division of employment, and manager/supervisors role questions. Team C completes the statistical summary of the BIMS data using the first 10 questions that represent the ordinal-level data. Frequency Distribution - Quantitative B. How long have you worked for BIMS? cumulative lower upper midpoint width frequency percent frequency percent 0 < 20 10 20 34 43.6 34 43.6 20 < 40 30 20 8 10.3 42 53.8 40 < 60 50 20 12 15.4 54 69.2 60 < 80 70 20 7 9.0 61 78.2 80 < 100 90 20 7 9.0 68 87.2 100 < 120 110 20 3 3.8 71 91.0 120 < 140 130 20 1 1.3 72 92.3 140 < 160 150 20 1 1.3 73 93.6 160 < 180 170 20...

Words: 923 - Pages: 4

Premium Essay

Marketing Research

...Marketing Research Take Home Final Examination Name: Ma. Cristina Abella Course/Year: BSBA-MM 3 Case 1. Kendalures Requirement: Design the questionnaire for the fishermen who will use the lures. Develop a set of 20 questions maximum. The questions should be a variation among open-ended and closed-ended questions (i.e. dichotomous, multiple responses (with rating scales if appropriate)). The questionnaire should be formatted that is inclusive of all the prescribed parts of a marketing research questionnaire starting with opening comments that should be verbalized when approaching fishermen who are launching their boats. (35 points) RESEARCH QUESTIONNAIRE Thank you for your help with our research. The following questions serve as a guide to collect information as you test our exciting new product. We are very interested in your experience and your opinions. At the end of these, please feel free to add your own comments. We realize there may be no definitive answers to any of these questions, but as an experienced fisherman, you have a very good general idea. We are looking more for trends and opinions based on your expertise. 1. What time of day were you fishing? Before 6:00 am 12:00pm – 4:00 pm 6:00 am - 8:00 am 4:00 pm – 6:00 pm 8:00 am - 10:00 am 6:00 pm – 8:00 pm 10:00 am – 12:00 pm After 8:00 pm 2. What would you pay for something that increased your catch 300-800%? Would you pay P500.00? Would you pay...

Words: 1669 - Pages: 7

Free Essay

Data Collection

...Data Collection Data Collection Ballard Integrated Managed Services Inc. (BMIS) located in New York city is a nationwide organization that specializes in providing services such as housekeeping and foodservices to 22 of Fortunes top 100 companies. Their clientele also consists of over 100 firms, 16 major universities, 14 medical centers, as well as 3 regional airports. BMIS is broken down into three divisions’ hospitality, food service, and physical plant maintenance, it also employees both full and part time workers. Recently, within the past four months general manger Barbara Tucker has noticed the turnover rate within her three divisions has reached over 64% annually as compared to the average rate between 55%and 60% (University of Phoenix, 2011, BIMS, Inc. Part I). The company moral at BMIS has reached an all time low and management has not improved its relationship with employee’s .Could this be one of the reason behind the increasing turnover rate? There has also been an increased usage of paid time off (PTO). The purpose of this research analysis is to find a solution to the increasing turnover rate as well as help improve company moral and get divisions at BMIS back on track. Instrument Design The data collection instrument used in this analysis was a survey. A survey can be defined as a tool used to collect information by asking questions recording responses on individual opinions and attitudes. BMIS administered a survey to allow...

Words: 1727 - Pages: 7

Premium Essay

Descriptive Statistics

...Descriptive Statistics kWh 1st Hour Operational Day This data set has a p-value of much less than .05 so it is classified as skewed, or not normally distributed. In this case the Median and the IQR are better indicators of the distribution. Central Tendency: Mean = 113.76; Median = 108; Mode = 128 Dispersion: Standard Deviation = 39.05; IQR = 60; Range = 169 Number: n = 147 Min/Max: 53/222 Overnight Low OAT in F° This data set is distributed normally. Central Tendency: Mean = 66.3; Median = 65.3; Mode = 67.8 Dispersion: Standard Deviation = 7.9; IQR = 11.7; Range = 36.9 Number: n = 147 Min/Max: 48.9/85.8 Confidence Interval: Lower = 65.04; Upper = 67.62 OAT Strata OAT < 70; OAT ≥ 70 Descriptive Statistics Interpretation kWh 1st Hour Operational Day The 60 minutes from 7:00a – 7:59a combine to make the first hour of the operational day for this school. The number of kWh consumed as measured by the electric meter and collected by the website, MYPVDATA.com, are tabulated for each day in the time period, August 1 through October 31. This data is taken from each of these time periods over three years, 2012 through 2014. This gives us a sample of 147 individual electric meter readings for the electricity consumed in the 7:00a hour on operational days. The kWh is a measurement of electrical demand. Things that consume electricity are for instance, air conditioners and heaters, lights and other peripheral equipment. The electricity consumed...

Words: 944 - Pages: 4