Descriptive Statistics Paper - Median Essay Example

The information below is a continuance of week two, week three, and on week four - Descriptive Statistics Paper introduction. The previous assessment in week two on “real estate research” for thinking of hypothesis on home values in Alvarado, Texas. The evaluating on real estate prices reveals a purpose of this research paper and its importance findings. The discoveries include problem definition, and on variables. The next assessment was on week three on “data collection” on reviewing literatures, sampling design, and on any ethical concerns with collection data on the same topic.

A summary was assembled in week three on terms of population, sampling size, and factors on real estate. This research found house prices to change in each different region. This is week four paper on “descriptive statistics” on real estate in Alvarado, Texas. The information below will consist of; data analysis, data using graphic and tabular techniques, and on skew values, histogram measures, and on central tendency. The Central tendency is the measures of numerical summaries used to summarize data with a one number. The most common used are mode, mean, and median.

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The Hypothesis is “homes more or less expensive fifteen miles away from the center of the city”? The comparison will come from the City of Arlington, Texas, and Cedar Hill. The mode is the data that happens most frequently in the data set and within Arlington Texas the mode is $182,744 and $221,309 outside of Arlington. The mean gives the average of the data set by adding all the values and dividing by n; that represents the totals number of data values. The mean is $108,448 outside of Arlington, Texas and within Arlington the mean is $144,138.

The median is basically dividing the data into two equal halves; each half would have “fifty percent” of the data. The median is the numerical value where the data is broken down and within Arlington, Texas out of “twenty-one” home sale sampled the median is $103,000 and outside of the city the amount is $102,425. The measure of dispersion is summarizing how the data is together and by the following: The Range, inter-quartile range, standard deviation/variance. The range is as the difference between the largest and smallest set of data. The inter-quartile range is by finding the difference between the twenty-fifth and seventy-fifth quartile.

The standard deviation is the square root of the variance, and the variance would by subtracting the most value from the mean. This comparison used for the Hypothesis will focus on the standard deviation is s=27269. 57. When the data is poor this simply means that the results within the distribution are on top of one side more so than on the other side. A skew can be positive or negative; negative is on the left and positive data is on the right. The data does not always need to be skew because the data may not have a normal distribution.

According to the numbers outside of Arlington, Texas the numbers are negatively as well as within the city of Arlington, Texas. Descriptive statistical data using graphic and tabular techniques The two graphic charts on frequency distribution and on histogram and on the two tabular data above show information on real estate found in Alvarado, Texas City data. com (2011). Measures of Central Tendency and Dispersion The question is answered by this research, is a four “bedroom” home’s value less 15 miles outside of the city limits than a comparable home inside of the city limits?

Based on the histogram, frequency distribution, and skew value, the home value inside of city limits range from127, 439 to 685,000, and outside of city limits they range from 59,200 to 178,000. According to the following data, the mean is less than the median, resulting in a negative skew value. The measure of central tendency is a typical or central value of a variable, often referred to as an average. Commonly used measures of central tendency consist of mean (or average), mode, median, and midrange (Porkess, 2006). The measure of central dispersion is the spread of distribution.

The data found several measures of dispersion. Range is the difference between the largest and smallest values (Porkess, 2006). By contrast, mean absolute deviation, standard deviation, and semi-interquartile range are measured in how far above or below the middle a typical value may be found (Porkess, 2006). Standard deviation (the square root of the variance) is the most important statistically; it gives more weight to extreme values than do the other two (Porkess, 2006). The standard deviation is a one number that helps to understand how individual values in a data set vary from the mean (Doane & Seward, 2007).

The data collected and research done in week two, week three, and week four found that all data is secondary on real estate in Alvarado, Texas. The research was for answers “is a four bedroom homes value less 15 miles outside of the city limits than a comparable home inside of the city limits”? This portion is from week two, and this search shows the question to have good data on initial research. The information shows data on real estate on homes found in Alvarado, Texas, and from week three” of peer-reviewed articles describing how each article applies to the research topic is discussed. A theory or” hypothesis of a lag relation between housing prices in the city and surrounding areas. In this article the subject to explain is the difference in each region and the house price changes of each different region. ” In conclusion, descriptive statistics paper shows research information in real estate research paper and data collection paper on real estate found in Alvarado, Texas. The descriptive statistics paper shows research on home values, prices, and data. The data is using graphic and tabular techniques and frequency distribution and histograms. The calculate measures of central tendency, dispersion, and skew data.

This research is on finding the truth on real estate homes prices, the middle, median, and at the same time show different ways of using sources on data for any topic like real estate. The conclusion on “is a four bedroom homes value less 15 miles outside of the city limits than a comparable home inside of the city limits”? The answer is a big “YES” because like Alvarado, Texas, a home price outside the city limits is less with four bedrooms and in a city like Alvarado, Texas, shows home price higher with four bedrooms.

Reference

City data. com (2011). Alvarado, Texas. Retrieved July 24, 20111 From http://www. city-data. com/city/Alvarado-Texas. html Doane, D. P. , & Seward, L. E. (2007). Applied statistics in business and economics. Boston, MA: McGraw-Hill/Irwin. Retrieved July 24, 2011 National Atlas. Gov. (2011). Understanding descriptive statistics. Retrieved July 24, 2011, from http://www. nationalatlas. gov/articles/mapping/a_statistics. html Porkess, R. (2006). Web-Linked Dictionary-Statistics. New York, NY: HarperCollins. Retrieved July 24, 2011 Trulia, Inc. (2011). Homes and local scoop for the real estate obsessed. Retrieved July 24, 2011, from http://www. trulia. com/

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