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Data is transforming the way decisions are made in business, marketing, politics, economics, sports, and international development. As professionals, it is crucial to be proficient in the basic concepts of statistics and to understand how data is collected, interpreted, and used in the world around us.
Determine factors that have the greatest impact on property prices utilizing the introductory statistics concepts by choosing and visually representing relevant data, make valid predictions based on the analysis, and use statistics to craft an informed response to the question “What drives property prices?” Use confidence intervals and hypothesis tests to determine the validity of the mean property prices stated by two opposing parties in a disagreement over the affordability of housing in a given area. Make a recommendation regarding the affordability of housing based on the findings.
The dataset used for this assignment contains data from properties listed on “domain.com.au” in the Melbourne metropolitan area between January 2016 and September 2017. This data includes key geographic information (e.g., suburb, distance from Melbourne CBD), property information (e.g., property type, number of rooms, land area), and selling information (e.g., sale date, price).
Instructions Part 1.1 | Part 1.2 | Part 1.3 | Part 1.4 | Part 1.5 | Part 2 |
Click on Add submission below to activate the text-submission box where you will share the links you create in the following steps.
Open the Property Prices – Part 1 Data Template (opens in new window) Google sheet.
Select “use template” in the upper-right corner of the preview to create your own copy of the template. Information from 2,355 total properties has been included for you, and you will use the pre-labeled tabs to perform pertinent computations for each part of the assignment.
Rename your copy of the Google Sheet using your first initial and last name.
Click on the share button and change the General Access settings from “Restricted” to “Los Angeles Pacific University” so your professor can open your copy of the data template.
Before you click done, copy the link to the Google Sheet and paste it into the text box provided for Adding your Submission.
Open Google Slides – Part 1 Template (opens in new window) and
Select “use template” in the upper-right corner of the preview to create your own copy of the template for presenting your work for Part 1 of the assignment.
Rename your copy of the Google Slides template using your first initial and last name.
Click on the share button and change the General Access settings from “Restricted” to “Los Angeles Pacific University” so your professor can open your copy of the data template.
Before you click done, copy the link to the Google Sheet and paste it into the text box provided for Adding your Submission.
Submit links to your copy of Google Sheets and your copy of Google Slides for grading.
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