Darwin Case Study
Advanced Hypothesis Testing
This report is a continuation from the previous week statistical report and entails more detailed information concerning the mean costs of the average rent price for office spaces in and around the Sacramento area. A business plan is being designed to include financial coverage and location.
This report¡¦s primary focus is to base the cost of office space strictly upon price, to ascertain the startup and ongoing costs of the short-term business plan. However, certainly we will consider other issues with the overall plan once the median is found. Other issues to be considered aside from costs are location, convenience, fixtures, insurance prices, and customer accommodations. Surrounding areas of Sacramento will …show more content…
H0 is not rejected since tcal (-0.823) > tcrit (-1.684). Therefore the mean for office prices in surrounding area of Sacramento is not cheaper then the mean price of Sacramento.
Based upon the information found in the cost analysis, office location prices are quite similar in the inner and outer rim areas. One can assume now with good probability that finding good office space for the real estate brokerage can be based solely upon choice without too much consideration on median cost for space. The cost should not affect the decision because we have determined that office space prices are quite the same per square footage and size wherever we look in Sacramento. One can now implement the other deciding factors into our choice for choosing office space.
The internet is a very good resource when trying to establish a mean office price in and around Sacramento and outlying areas (Homepoint.com, 2007). When conducting this type of research, one must keep in mind the type of property and office space one is looking for. There are many factors to consider when looking for office …show more content…
Affordable office space can be found but one must wade through a long list of very expensive and very nice to have items before a single affordable listing is found. For example, there are offices where an administrative staff is available for the tenant. The personnel do not work solely for the one client but assist many different clients with their administrative needs. These people are hired by the management company and are there to assist and relieve clients of tedious everyday office duties such as answering phones, taking messages, data input, and greeting customers. These types of services are very nice to have for a small organization, especially one just starting up, but it also comes with a price tag that not everyone just starting up can afford. The prospective tenant must weigh the benefits of having a ready-made administrative staff against the fee that is charged by the management
This report is a continuation from the previous week statistical report and entails more detailed information concerning the mean costs of the average rent price for office spaces in and around the Sacramento area. A business plan is being designed to include financial coverage and location.
This report¡¦s primary focus is to base the cost of office space strictly upon price, to ascertain the startup and ongoing costs of the short-term business plan. However, certainly we will consider other issues with the overall plan once the median is found. Other issues to be considered aside from costs are location, convenience, fixtures, insurance prices, and customer accommodations. Surrounding areas of Sacramento will …show more content…
H0 is not rejected since tcal (-0.823) > tcrit (-1.684). Therefore the mean for office prices in surrounding area of Sacramento is not cheaper then the mean price of Sacramento.
Based upon the information found in the cost analysis, office location prices are quite similar in the inner and outer rim areas. One can assume now with good probability that finding good office space for the real estate brokerage can be based solely upon choice without too much consideration on median cost for space. The cost should not affect the decision because we have determined that office space prices are quite the same per square footage and size wherever we look in Sacramento. One can now implement the other deciding factors into our choice for choosing office space.
The internet is a very good resource when trying to establish a mean office price in and around Sacramento and outlying areas (Homepoint.com, 2007). When conducting this type of research, one must keep in mind the type of property and office space one is looking for. There are many factors to consider when looking for office …show more content…
Affordable office space can be found but one must wade through a long list of very expensive and very nice to have items before a single affordable listing is found. For example, there are offices where an administrative staff is available for the tenant. The personnel do not work solely for the one client but assist many different clients with their administrative needs. These people are hired by the management company and are there to assist and relieve clients of tedious everyday office duties such as answering phones, taking messages, data input, and greeting customers. These types of services are very nice to have for a small organization, especially one just starting up, but it also comes with a price tag that not everyone just starting up can afford. The prospective tenant must weigh the benefits of having a ready-made administrative staff against the fee that is charged by the management