University Of Phoenix
Research and Evaluation I
May 09, 2011
Final Conclusions Memo
Reviewing our data analysis from the descriptive statistics, the team used the research and conducted the final results by introducing and calculating the measures of central tendency (Seward, 2007); some of the real estate blocks are distributed by the many ways that lots were well thought-out. By this manner, the spreading and performing a non-bias evaluation for the data when implemented has given realtors the information to buyers on what in the best purchased price, and the sellers for what can be expected to sell the homes for in this given market. The realtors can use this data to bring potential buyers and sellers together when reviewing the different intervals, which includes different measurements in a given areas. The variables or amenities for this research included the following:
• Price per house
• Square foot per house
• Number of bedrooms
• Number of bathrooms
• Has a pool
• Has a garage
• What township is the house located
• How many miles from the city
When reviewing and evaluating 105 different houses for sale, the research obtain a mean value to a home costing an average of $221.1 thousand dollars with a standard deviation of $47.1 thousand dollars with a desired confidence level to be 99%, the corresponding confidence interval is ±11.84. That is to say that you are 99% certain that the true population mean falls into the range from $209.26 to $232.94 thousand dollars. Also stated, at this confidence level and this sample size, there will be a one-in-one hundred chance that the true population mean will fall outside the calculated range.
What can be construe from the data collected and the meanings is the volatility on the real estate market for the earlier years has not been as predictable in earlier decades. The rise and fall of the market has allowed the findings show the best value for buying and... [continues]
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