Topics: Real estate, Price, Apartment Pages: 6 (1186 words) Published: November 27, 2010
QNT/561 Applied Business Research and Statistics

November 8, 2010

Table of Content

❖ Introduction

❖ Research Problem

❖ Purpose of the Research

❖ Research Questions

❖ Research Hypothesis

❖ Outcome of the Research

❖ Variables

❖ Variable to be Tested

❖ Measurements of the Variables

❖ Measurement Scale for Each Variable

❖ Conclusion

Learning Team C has selected the real estate data set from the textbook, “Statistical Techniques in Business & Economics” by Lind, Marchal and, Mason. This textbook covers 106 sales price and various key property characteristics. The dependent variable is house price measured in thousands. For example, Selling Price (In Thousands), Number of bedrooms, Size of the home in square feet, Pool, Distance from the center of the city in miles, Township, Garage attached, and Number of bathrooms. This paper will explain special research matter or problem, definition of selected data using quantifiable measures. This paper will also detail the steps that address a resolution of selected issue, for instance purpose of the research, research problem, and why research problem is that important? Research hypothesis, possible outcomes resulted from this research, operational definitions for each variables and measurement scales.

Research problem

One of the problems that Learning Team has notice while doing research is that the houses selling prices that customers have to pay are not in conformance to the facilities provided. There should be amplitude between selling prices and the facilities in those houses and customers should be satisfied completely for the amount they pay. If there is any difference in the prices of the houses, it has to be strong reason. For example, from the data provided, the price of one house is 242.1 (in thousands) and has only three bedrooms in 2300 square feet. Whereas on the other hand, there is house with the price 245.4 and it has 2 bedrooms with the same area. This distribution is not in apportionment with different prices of the houses. “This problem is very noticeable and important because this is unnecessary financial expenditure and people are paying extra prices for just few facilities” (Real Estate Business, 2008).

Purpose of the research

The reason for this research is to explain the dilemma of unbalanced prices and the facilities in the houses. The purpose of this research is to draw attention of the authorities to such uneven distribution of prices and facilities. Customers are paying high prices for few facilities. “The main cause of this research is to make the house prices even to the comforts or facilities provided to the customers. This can be useful for customers and for all people” (Rowland, 1959).

Research Questions

Questions in any research work composed of very important role because it helps to analyze the situations and provide final decisions. High-quality research should always be challenging and creative. Following are the questions that cover the selected issue:

“1. Why do the prices of houses is different?

2. Is there any effect on the house prices from the number of bathrooms?

3. Why the house prices are vary even though they have same size?

4. Why the selling prices of the houses are not in proportion to the facilities provided?

5. Why the charges for real estate agents are so high?

6. How are the variables distributed according to the selling prices?

7. How long has the home been on the market? ” (Real estate, 2008).

Research Hypothesis

At one point there was an assumption that house prices are not even with the facilities provided in them, which means customers are unquestionably in loss and are not content by the additional expenditure.

Outcomes of the Research

Every research has some outcomes and...

References: Lester, J.D. (2005). Research Paper Handbook: Your Complete Guide (3rd edition). U.S.: Good
Year Books Educational Publishers.
Rowland, D.T. (1959). Urban Real Estate Research. Washington: Urban land institute