# Quantative Methods Statistics Assignment

Only available on StudyMode
• Published : May 21, 2012

Text Preview
Quantitative Methods Unit 1 Statistics Project

A Report Comparing Property Prices in Jesmond & Wallsend

Example of average property in Jesmond based on actual Mean of £302,809 (Right Move)

Average property in Wallsend based on actual Mean of £87,350 (Right Move)

1

Contents
1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0 16.0 Introduction Data Collection Raw Data Calculations Tally/ Frequency Charts Bar Charts Pie Charts Cumulative Frequency Tables Histogram Appropriate use of Measurements Discussion & Observations Comparisons Analysis Conclusion Evaluation Bibliography 3 4 5-9 9 10-12 13 14-17 18-19 20 20 20-21 21 21-22 22 22 22-23i

2

1.0 Introduction My hypothesis is that property in Jesmond is more expensive than property in Wallsend. Jesmond and Wallsend are very different areas.

Osbourne Road, Jesmond (Expedia) Jesmond is a leafy suburb with a large proportion of cosmopolitan shops, bars, restaurants and other amenities. It also has a high student population and a busy street called Osbourne Road, which houses some very popular late night bars.

High Street, Wallsend (City Local) Wallsend is a less desire-able and densely populated inner-city area, which doesn’t have such a high student population or some of the more cosmopolitan attractions available in Jesmond. However, both areas are in the east end of Newcastle and within easy reach of the city centre.

3

2.0 Data Collection I used the Zoopla web site to compile data as they provide information from a variety of different estate agents. I also used the ‘Most Recent’ button to ensure the data was randomly selected and not sorted by ascending or descending prices. In addition, I created separate sets of data based on the number of bedrooms within the properties. I decided that this method of selection would allow me to make more accurate ‘like for like’ comparisons between the two areas and make the collective data, for Jesmond and Wallsend, as directly comparable as possible. In addition to the 2/ 3 bedroom flats, I planned to select ‘3 bedroom houses’ only assuming that this would be the most common property type. However, there were not enough 3 bedroom houses in Jesmond to make an accurate comparison, so I added 4 and 5 bedroom houses to the selection in both areas. I have included data on 65 properties in each area, broken down as follows, to give a broad selection of property types.

Type of Property 2 Bedroom Flats 3 Bedroom Flats 3 Bedroom Houses 4 Bedroom Houses 5 Bedroom Houses Total

Selection 25 x 2 10 x 2 10 x 2 10 x 2 10 x 2 130

4

3.0 Raw Data (Zoopla) Area Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Wallsend Jesmond Jesmond Jesmond Beds 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Type Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Price (£) 125,000 69,950 25,000 64,950 79,950 49,950 75,000 39,950 94,950 59,950 70,000 57,000 54,950 87,500 85,000 69,950 74,950 64,950 69,950 44,950 74,950 64,950 54,950 104,950 69,950 180,000 475,000 280,000

5

Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond Jesmond

2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 3 3 3 3 3 3 3 3

Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat Flat House House House House House House House House

230,000 179,950 150,000 150,000 250,000 130,000 149,950 200,000 199,950 169,950 450,000 184,950 159,950 140,000 350,000 150,000 149,950 244,950 225,000 162,500 200,000 150,000 249,950 785,00 169,950 339,950 275,000...