Descriptive statistics

Topics: Real estate, Arithmetic mean, House Pages: 3 (1033 words) Published: June 2, 2014
Professor Dumonceaux
Descriptive Statistics Paper
2 June 2014
Finding a New Home
According to Trochim, “Descriptive statistics are used to describe the basic features of the data in a study. They provide simple summaries about the sample and the measures. Together with simple graphics analysis, they form the basis of virtually every quantitative analysis of data” (Trochim, 2006). For many years, many studies and researches have been done in real estate market. Buyers need to conduct researches to decide which house they will purchase. Buyers’ concerns include the price of the house, the number of bedrooms, and location. Real estate agents need to gather all the necessary information to provide their services to buyers. Additionally, the agents must be able to predict what types of houses are most likely to sell. In this paper, I will provide the summary of what I have been studying. The paper will include the measure of central tendency, dispersion, and skew for data. In addition, this paper will also contain graphic data as well as tabular data to demonstrate my findings and studies. In the end, conclusion will present whether my research findings answered the problem statement or if more research may be needed. Examining the data collected for the current real estate market desires, following are the conclusions based on its findings. There are many key factors to consider when purchasing a home. Some of the factors include interest rates, number of bedrooms and bathrooms, size of the property, location, finances, and the price of the home. Interest rates vary daily, and this is a major factor that has to be considered when purchasing a home. Most homebuyers are on a strict income, therefore the interest rate has to be a certain rate so that the homebuyer can afford the home and receive approval for the bank loan. The number of bedrooms and bathrooms varies among homebuyers. A person with a family searches for homes with multiple bedrooms and bathrooms,...

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QuickMBA. (2010). Retrieved from http://www.quickmba.com/stats/centralten/
Sekaran, U. (2003). Research methods for business: A skill-building approach (4th ed.). New York, NY: John Wiley & Sons.
Trochim, W. (2060). Research Methods Knowledge Base. Retrieved from http://www.socialresearchmethods.net/kb/statdesc.php
Virginia Tech. (1999). Retrieved from http://simon.cs.vt.edu/sosci/Site/MMM/mmm.html
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