STATISTICAL METHOD

INTRODUCTION
GROUP
Real estate is a business, not a profession. Real estate is sometimes inaccurately
E-ZEE
spoken of as a profession, but it is essentially a business. A profession applies
science, art or learning to the use of others, the profit to the professor or person
applying it being incidental, whereas a business is engaged in primarily for
profit, and the profit is to the one engaging in the business.

The principal divisions of the real estate business are investment,

operation and agency. These differ from one another according to the aims of
the persons engaging in them and the methods by which those persons expect to
make their gains. To conduct either of the first two divisions of the business,
investment or operation, actual money capital is required. The most important
capital in the agency business is the good will of its customers, and that can be
husbanded, increased and made very valuable.

Think of real estate investment as a game where there are plenty of

options to choose from. The real estate market has many different types of
homes and structures that can be purchase ranging from duplexes, single-family
units, apartment complexes, commercial buildings, strip malls and so much
more. With so many options comes many ways in which we can invest our
money. We can purchase and flip homes or buy and then hold the homes, for
example.

There are so many challenging in real estate world. With the experience
in the long journey of real estate business, Virginia Real Estate now is become a
very dominant and ascendant real estate. Virginia Real Estate is located at
Virginia City is the one of the oldest established real estate in Nevada, United
State.

Mr. Thomas is a member of the senior management team at Virginia Real

Estate. He is responsible for tracking and analyzing home selling prices for
Virginia Real Estate. He would like to summarize home selling prices with
charts and graphs that he could review monthly. From these tables and charts,
he wants to know the typical selling as well as the lowest and highest prices.

Mr. Thomas decided to collect data on 8 variables at Virginia Real Estate.

There are selling price ($000), number of bedrooms, size of the home in square
feet, pool (yes, coded as 1 or no, coded as 0), distance from the center of the
city in miles, township, garage attached (yes, coded as 1 or no, coded as 0) and
the number of bathrooms.

21
STATISTICAL METHOD

OBJECTIVE
GROUP
E-ZEE

1. To organize qualitative data into frequency table.

2. To present frequency table as a bar chart or a pie chart.
3. To organize quantitative data into a frequency distribution.
4. To present a frequency distribution for quantitative data using histogram.
5. To determine whether the existing information is adequate or additional
information is required.
6. To gather information, if it is needed, in such a way that it does not
provide misleading result.
7. To summarize the information in a useful and informative manner.
8. To analyze the available information.
9. To draw the conclusions and make inferences while assessing the risk of
an incorrect conclusion.

RESEACH METHODOLOGY

1. Collection (data) sample. Data was taken from the student CD and
appendix A.1
2. Method- Descriptive Statistic
3. Software- Minitab 14.0

21
STATISTICAL METHOD

RESULT AND DISCUSSION GROUP

E-ZEE

Types of Variables

Quantitative

Discrete
Discrete Continuous
Continuous
Bedrooms

Size

Township

Baths Price

Pool

Garage

Distance Summary of Types of Variables

Characteristics for Level of

Measurement

Ordinal Ratio

Distance
Pool
Price
Garage
Bedrooms

Size

Township

Baths
Summary of Level of Measurement

21
STATISTICAL METHOD

GROUP
Table 1 below shows Relative Frequency table for home sold (by pool) at Real Estate E-ZEE
Home Number sold Relative frequency
With Pool 38 0.360
Without Pool 67 0.640
Total 105 1.000

Table 2 below shows Relative Frequency table for home sold (by garage) at Real Estate
Home Number sold Relative Frequency
Attached by garage 71 0.676
Without attached by garage 34 0.324
Total 105 1.000

Table 3 below shows Frequency Distribution of selling prices at Real Estate

Selling Prices ($ thousands) Frequency
125 up to 170 9
170 up to 215 44
215 up to 260 30
260 up to 305 15
305 up to 350 7
Total 105

Descriptive Statistics: Pool

Variable Pool N N* Mean SE Mean StDev Minimum Q1 Median Q3
Price 0 67 0 231.49 6.18 50.57 125.00 188.30 228.40 269.20
1 38 0 202.80 5.47 33.71 147.40 176.13 198.60 220.95
Variable Pool Maximum
Price 0 345.30
1 307.80

Descriptive Statistics: Garage

Variable Garage N N* Mean SE Mean StDev Minimum Q1 Median
Price 0 34 0 185.45 4.80 28.00 125.00 170.33 186.85
1 71 0 238.18 5.33 44.88 166.20 198.90 236.40
Variable Garage Q3 Maximum
Price 0 207.50 242.10
1 269.90 345.30

Descriptive Statistics: Price

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3
Price 105 0 221.10 4.60 47.11 125.00 186.85 213.60 251.85
Variable Maximum
Price 345.30

Descriptive Statistics: Bedrooms

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3
Bedrooms 105 0 3.800 0.147 1.503 2.000 3.000 4.000 5.000
Variable Maximum
Bedrooms 8.000

Descriptive Statistics: Size

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3
Size 105 0 2223.8 24.3 248.7 1600.0 2100.0 2200.0 2400.0
Variable Maximum
Size 2900.0

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 STATISTICAL METHOD

GROUP
Descriptive Statistics: Distance E-ZEE
Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3
Distance 105 0 14.629 0.476 4.874 6.000 11.000 15.000 18.000
Variable Maximum
Distance 28.000

Descriptive Statistics: Township

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3
Twnship 105 0 3.105 0.125 1.285 1.000 2.000 3.000 4.000
Variable Maximum
Twnship 5.000

Descriptive Statistics: Baths

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3
Baths 105 0 2.0810 0.0384 0.3930 1.5000 2.0000 2.0000 2.0000
Variable Maximum
Baths 3.0000

Variable N Mean SE St. Minimum Q1 Median Q3 Maximum

Mean Dev
Price 10 221.1 4.60 47.11 125.00 186.8 213.60 251.8 345.30
5 0 5 5
Bedrooms 10 3.800 0.147 1.503 2.000 3.000 4.000 5.000 8.000
5
Size 10 2223. 24.3 248.7 1600.0 2100. 2200.0 2400. 2900.0
5 8 0 0
Distance 10 14.62 0.476 4.874 6.000 11.00 15.000 18.00 28.000
5 9 0 0
Township 10 3.105 0.125 1.285 1.000 2.000 3.000 4.000 5.000
5
Bathrooms 10 2.081 0.038 0.393 1.5000 2.000 2.0000 2.000 3.0000
5 0 4 0 0 0

Table 4 above shows descriptive statistics for all variables

Variable availabilit N Mean SE St. Min Q1 Median Q3 Max

y Mean Dev
Pool yes 38 202.80 5.47 33.71 125.00 176.13 198.60 220.95 307.80
no 67 231.49 6.18 50.57 147.40 188.30 228.40 269.20 345.30
Garage yes 71 238.18 5.33 44.88 166.20 198.90 236.40 269.90 345.30
no 34 185.45 4.80 28.00 125.00 170.33 186.85 207.50 242.10

Table 5 above shows descriptive statistics for pool and garage variables

21
STATISTICAL METHOD

GROUP
E-ZEE

Pie chart and Bar Chart for price variable

Variable N Mean SE St. Minimum Q1 Median Q3 Maximum

Mean Dev
Price 105 221.1 4.60 47.11 125.00 186.8 213.60 251.8 345.30
0 5 5

21
STATISTICAL METHOD

Pie chart and bar chart above shows the price variable for home sold in Virginia Real Estate.
The pie chart and bar chart shows mean, SE Mean, Standard deviation, minimum value, Q1,
median, Q3 and maximum value of price for the home sold in Virginia Real Estate. From the
pie and bar chart we know that the value of mean is 221.10, SE mean is 4.60, Standard GROUP
deviation is 47.11, minimum value is 125, Q1 is 186.85, median is 213.60, Q3 is 251.85 and
E-ZEE
the maximum value is 345.30.

Pie chart and Bar Chart for bedrooms variable

Variable N Mean SE St. Minimum Q1 Median Q3 Maximum

Mean Dev
Bedrooms 105 3.800 0.147 1.503 2.000 3.000 4.000 5.000 8.000

21
STATISTICAL METHOD

GROUP
E-ZEE

Pie chart and bar chart above shows the bedrooms variable for home sold in Virginia Real
Estate. The pie chart and bar chart shows mean, SE Mean, Standard deviation, minimum
value, Q1, median, Q3 and maximum value of bedrooms for the home sold in Virginia Real
Estate. From the pie and bar chart we know that the value of mean is 3.800, SE mean is
0.147, Standard deviation is 1.503, minimum value is 2.000, Q1 is 3.000, median is 4.000,
Q3 is 5.000 and the maximum value is 8.000.

Pie chart and Bar Chart for size variable

Variable N Mean SE St. Minimum Q1 Median Q3 Maximum

Mean Dev
Size 105 2223. 24.3 248.7 1600.0 2100. 2200.0 2400. 2900.0
8 0 0

21
STATISTICAL METHOD

GROUP
E-ZEE

Pie chart and bar chart above shows the size variable for home sold in Virginia Real Estate.
The pie chart and bar chart shows mean, SE Mean, Standard deviation, minimum value, Q1,
median, Q3 and maximum value of size for the home sold in Virginia Real Estate. From the
pie and bar chart we know that the value of mean is 2223.8, SE mean is 24.3, Standard
deviation is 248.7, minimum value is 1600.0, Q1 is 2100.0, median is 2200.0, Q3 is 2400.0
and the maximum value is 2900.0.

Pie chart and Bar Chart for distance variable

Variable N Mean SE St. Minimum Q1 Median Q3 Maximum

Mean Dev
Distance 105 14.62 0.476 4.874 6.000 11.00 15.000 18.00 28.000
9 0 0

21
STATISTICAL METHOD

GROUP
E-ZEE

Pie chart and bar chart above shows the distance variable for home sold in Virginia Real
Estate. The pie chart and bar chart shows mean, SE Mean, Standard deviation, minimum
value, Q1, median, Q3 and maximum value of distance for the home sold in Virginia Real
Estate. From the pie and bar chart we know that the value of mean is 14.629, SE mean is
0.476, Standard deviation is 4.874, minimum value is 6.000, Q1 is 11.000, median is 15.000,
Q3 is 18.000 and the maximum value is 28.000.

Pie chart and Bar Chart for township variable

Variable N Mean SE St. Minimum Q1 Median Q3 Maximum

Mean Dev
Township 105 3.105 0.125 1.285 1.000 2.000 3.000 4.000 5.000

21
STATISTICAL METHOD

GROUP
E-ZEE

Pie chart and bar chart above shows the township variable for home sold in Virginia Real
Estate. The pie chart and bar chart shows mean, SE Mean, Standard deviation, minimum
value, Q1, median, Q3 and maximum value of township for the home sold in Virginia Real
Estate. From the pie and bar chart we know that the value of mean is 3.105, SE mean is
0.125, Standard deviation is 1.285, minimum value is 1.000, Q1 is 2.000, median is 3.000,
Q3 is 4.000 and the maximum value is 5.000.

Pie chart and Bar Chart for bathrooms variable

Variable N Mean SE St. Minimum Q1 Median Q3 Maximum

Mean Dev
Bathrooms 10 2.081 0.038 0.393 1.5000 2.000 2.0000 2.000 3.0000
5 0 4 0 0 0

21
 STATISTICAL METHOD

GROUP
E-ZEE

Pie chart and bar chart above shows the bathrooms variable for home sold in Virginia Real
Estate. The pie chart and bar chart shows mean, SE Mean, Standard deviation, minimum
value, Q1, median, Q3 and maximum value of bathrooms for the home sold in Virginia Real
Estate. From the pie and bar chart we know that the value of mean is 2.0810, SE mean is
0.0384, Standard deviation is 0.3930, minimum value is 1.5000, Q1 is 2.0000, median is
2.0000, Q3 is 2.0000 and the maximum value is 3.0000.

Pie chart and Bar Chart for pool variable

Variabl availabilit N Mean SE St. Min Q1 Median Q3 Max

e y Mean Dev

21
 STATISTICAL METHOD

Pool yes 38 202.80 5.47 33.71 125.00 176.13 198.60 220.95 307.80
no 67 231.49 6.18 50.57 147.40 188.30 228.40 269.20 345.30

GROUP
E-ZEE

21
STATISTICAL METHOD

GROUP
E-ZEE

Pie chart and bar chart above shows the home sold in Virginia Real Estate with and without
pool. The pie chart and bar chart shows mean, SE Mean, Standard deviation, minimum
value, Q1, median, Q3 and maximum value for the home sold in Virginia Real Estate with
and without pool. From the pie and bar chart for the home that sold with pool, we know that
the value of N is 38, mean is 202.80, SE mean is 5.47, Standard deviation is 33.71, minimum
value is 125.00, Q1 is 176.13, median is 198.60, Q3 is 220.95 and the maximum value is
307.80. From the pie and bar chart for the home that sold without pool, we know that the
value of N is 67, mean is 231.49, SE mean is 6.18, Standard deviation is 50.57, minimum
value is 147.40, Q1 is 188.30, median is 228.40, Q3 is 269.20 and the maximum value is
345.30.

Pie chart and Bar Chart for garage variable

21
 STATISTICAL METHOD

Variabl availabilit N Mean SE St. Min Q1 Median Q3 Max

e y Mean Dev
Garage yes 71 238.18 5.33 44.88 166.20 198.90 236.40 269.90 345.30
GROUP
no 34 185.45 4.80 28.00 125.00 170.33 186.85 207.50 242.10
E-ZEE

21
STATISTICAL METHOD

GROUP
E-ZEE

Pie chart and bar chart above shows the home sold in Virginia Real Estate with and without
garage. The pie chart and bar chart shows mean, SE Mean, Standard deviation, minimum
value, Q1, median, Q3 and maximum value for the home sold in Virginia Real Estate with
and without garage. From the pie and bar chart for the home that sold with garage, we know
that the value of N is 71, mean is 238.18, SE mean is 5.33, Standard deviation is 44.88,
minimum value is 166.20, Q1 is 198.90, median is 236.40, Q3 is 269.90 and the maximum
value is 345.30. From the pie and bar chart for the home that sold without garage, we know
that the value of N is 34, mean is 185.45, SE mean is 4.80, Standard deviation is 28.00,
minimum value is 125.00, Q1 is 170.33, median is 186.85, Q3 is 207.50 and the maximum
value is 242.10.

21
STATISTICAL METHOD

GROUP
E-ZEE

21
STATISTICAL METHOD

CONCLUSION

GROUP
The tests for normal data set are easy to use and powerful, however, the tests for
E-ZEE
non-normal data more difficult and not as powerful. In many situations the data
can be transformed to approximate a normal distribution and it can be analyzed
using the techniques presented above.

Relations between variables are very important. It is because the ultimate

goal of every research or scientific analysis is finding relations between
variables. The philosophy of science teaches us that there is no other way of
representing "meaning" except in terms of relations between some quantities or
qualities, either way involves relations between variables. Thus, the
advancement of science must always involve finding new relations between
variables.

Correlational research involves measuring such relations in the most

straightforward manner. However, experimental research is not any different in
this respect. For example, the above mentioned experiment comparing house
sold at real estate can be described as looking for a correlation between eight
variables: price, bedrooms, size, township, distance, bathrooms, pool and
garage. Statistics does nothing else but help us evaluate relations between
variables.

APPENDIXES

21
STATISTICAL METHOD

Chart of Pool
70 GROUP
E-ZEE
60

50

40
Count

30

20

10

0
0 1
Pool

Chart of Garage
80

70

60

50
Count

40

30

20

10

0
0 1
Garage

Descriptive Statistics: Price

21
STATISTICAL METHOD

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3

Price 105 0 221.10 4.60 47.11 125.00 186.85 213.60 251.85

Variable Maximum
Price 345.30 GROUP
E-ZEE

Histogram of Price
25

20
Frequency

15

10

0
120 160 200 240 280 320
Price

Histogram (with Normal Curve) of Price

25 Mean 221.1
StDev 47.11
N 105

20
Frequency

15

10

0
120 160 200 240 280 320
Price

21
STATISTICAL METHOD

Tally for Discrete Variables: Price

Price Count CumCnt Percent CumPct

125.0 1 1 0.95 0.95
125.9 1 2 0.95 1.90
139.9 1 3 0.95 2.86
GROUP
147.4 1 4 0.95 3.81 E-ZEE
154.3 1 5 0.95 4.76
155.4 1 6 0.95 5.71
164.1 1 7 0.95 6.67
166.2 1 8 0.95 7.62
166.5 1 9 0.95 8.57
171.6 1 10 0.95 9.52
172.4 1 11 0.95 10.48
172.7 1 12 0.95 11.43
173.1 1 13 0.95 12.38
173.6 2 15 1.90 14.29
175.0 1 16 0.95 15.24
175.6 1 17 0.95 16.19
176.0 1 18 0.95 17.14
176.3 1 19 0.95 18.10
177.1 1 20 0.95 19.05
179.0 2 22 1.90 20.95
180.4 1 23 0.95 21.90
182.4 1 24 0.95 22.86
182.7 1 25 0.95 23.81
186.7 1 26 0.95 24.76
187.0 1 27 0.95 25.71
188.1 1 28 0.95 26.67
188.3 4 32 3.81 30.48
189.4 1 33 0.95 31.43
190.9 1 34 0.95 32.38
192.2 1 35 0.95 33.33
192.6 1 36 0.95 34.29
192.9 1 37 0.95 35.24
194.4 1 38 0.95 36.19
198.3 1 39 0.95 37.14
198.9 1 40 0.95 38.10
199.0 1 41 0.95 39.05
199.8 1 42 0.95 40.00
205.1 1 43 0.95 40.95
206.0 1 44 0.95 41.90
207.1 1 45 0.95 42.86
207.5 2 47 1.90 44.76
209.0 1 48 0.95 45.71
209.3 2 50 1.90 47.62
209.7 2 52 1.90 49.52
213.6 1 53 0.95 50.48
216.0 1 54 0.95 51.43
216.8 1 55 0.95 52.38
217.8 1 56 0.95 53.33
220.9 1 57 0.95 54.29
221.1 1 58 0.95 55.24
221.5 1 59 0.95 56.19
222.1 1 60 0.95 57.14
224.0 1 61 0.95 58.10
224.8 1 62 0.95 59.05
227.1 2 64 1.90 60.95
228.4 1 65 0.95 61.90
232.2 1 66 0.95 62.86
233.0 1 67 0.95 63.81
234.0 1 68 0.95 64.76
236.4 1 69 0.95 65.71
236.8 1 70 0.95 66.67

21
STATISTICAL METHOD

240.0 1 71 0.95 67.62

242.1 1 72 0.95 68.57
243.7 1 73 0.95 69.52
244.6 1 74 0.95 70.48
245.4 1 75 0.95 71.43 GROUP
246.0 1 76 0.95 72.38 E-ZEE
246.1 1 77 0.95 73.33
247.7 1 78 0.95 74.29
251.4 1 79 0.95 75.24
252.3 1 80 0.95 76.19
253.2 1 81 0.95 77.14
254.3 1 82 0.95 78.10
257.2 1 83 0.95 79.05
263.1 1 84 0.95 80.00
263.2 1 85 0.95 80.95
266.6 1 86 0.95 81.90
269.2 1 87 0.95 82.86
269.9 1 88 0.95 83.81
270.8 1 89 0.95 84.76
271.8 1 90 0.95 85.71
273.2 1 91 0.95 86.67
281.3 1 92 0.95 87.62
289.8 1 93 0.95 88.57
292.4 1 94 0.95 89.52
293.7 1 95 0.95 90.48
294.0 1 96 0.95 91.43
294.3 1 97 0.95 92.38
294.5 1 98 0.95 93.33
307.8 1 99 0.95 94.29
310.8 1 100 0.95 95.24
312.1 2 102 1.90 97.14
326.3 1 103 0.95 98.10
327.2 1 104 0.95 99.05
345.3 1 105 0.95 100.00
N= 105

Summary for Price

A nderson-Darling Normality Test
A -Squared 1.00
P-V alue 0.012
Mean 221.10
StDev 47.11
V ariance 2218.92
Skewness 0.474013
Kurtosis -0.276801
N 105
Minimum 125.00
1st Q uartile 186.85
Median 213.60
3rd Q uartile 251.85
120 160 200 240 280 320 Maximum 345.30
95% C onfidence I nterval for Mean
211.99 230.22
95% C onfidence I nterval for Median
204.92 227.10
95% C onfidence I nterval for StDev
95% Confidence I ntervals
41.48 54.51
Mean

Median

205 210 215 220 225 230

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STATISTICAL METHOD

Descriptive Statistics: Price

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3

Price 105 0 221.10 4.60 47.11 125.00 186.85 213.60 251.85

Variable Maximum
GROUP
Price 345.30 E-ZEE

Histogram of Price
25

20
Frequency

15

10

0
120 160 200 240 280 320
Price

Histogram (with Normal Curve) of Price

25 Mean 221.1
StDev 47.11
N 105

20
Frequency

15

10

0
120 160 200 240 280 320
Price

21
STATISTICAL METHOD

Descriptive Statistics: Bedrooms

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3

Bedrooms 105 0 3.800 0.147 1.503 2.000 3.000 4.000 5.000

Variable Maximum
GROUP
Bedrooms 8.000 E-ZEE

Histogram of Bedrooms

25

20
Frequency

15

10

0
2 3 4 5 6 7 8
Bedrooms

Histogram (with Normal Curve) of Bedrooms

30 Mean 3.8
StDev 1.503
N 105
25

20
Frequency

15

10

0
1 2 3 4 5 6 7 8
Bedrooms

21
STATISTICAL METHOD

Descriptive Statistics: Size

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3

Size 105 0 2223.8 24.3 248.7 1600.0 2100.0 2200.0 2400.0 GROUP
Variable Maximum
E-ZEE
Size 2900.0

Histogram of Size

20

15
Frequency

10

0
1600 1800 2000 2200 2400 2600 2800
Size

Histogram (with Normal Curve) of Size

Mean 2224
20
StDev 248.7
N 105

15
Frequency

10

0
1600 1800 2000 2200 2400 2600 2800
Size

21
STATISTICAL METHOD

Descriptive Statistics: Pool

Variable N N* Mean SE Mean StDev Minimum Q1

Pool 105 0 0.3619 0.0471 0.4829 0.000000000 0.000000000 GROUP
Variable Median Q3 Maximum
E-ZEE
Pool 0.000000000 1.0000 1.0000

Histogram of Pool
70

60

50
Frequency

40

30

20

10

0
0 1
Pool

Histogram (with Normal Curve) of Pool

90 Mean 0.3619
StDev 0.4829
80 N 105

70

60
Frequency

50

40

30

20

10

0
0 1
Pool

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STATISTICAL METHOD

Descriptive Statistics: Distance

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3

Distance 105 0 14.629 0.476 4.874 6.000 11.000 15.000 18.000 GROUP
Variable Maximum
E-ZEE
Distance 28.000

Histogram of Distance
20

15
Frequency

10

0
8 12 16 20 24 28
Distance

Histogram (with Normal Curve) of Distance

20 Mean 14.63
StDev 4.874
N 105

15
Frequency

10

0
4 8 12 16 20 24 28
Distance

21
STATISTICAL METHOD

Descriptive Statistics: Township

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3

Twnship 105 0 3.105 0.125 1.285 1.000 2.000 3.000 4.000 GROUP
Variable Maximum
E-ZEE
Twnship 5.000

Histogram of Twnship
30

25

20
Frequency

15

10

0
1 2 3 4 5
Twnship

Histogram (with Normal Curve) of Twnship

35 Mean 3.105
StDev 1.285
N 105
30

25
Frequency

20

15

10

0
0 1 2 3 4 5 6
Twnship

21
STATISTICAL METHOD

Descriptive Statistics: Garage

Variable N N* Mean SE Mean StDev Minimum Q1 Median

Garage 105 0 0.6762 0.0459 0.4702 0.000000000 0.000000000 1.0000 GROUP
Variable Q3 Maximum
E-ZEE
Garage 1.0000 1.0000

Histogram of Garage
80

70

60

50
Frequency

40

30

20

10

0
0 1
Garage

Histogram (with Normal Curve) of Garage

Mean 0.6762
90
StDev 0.4702
N 105
80

70

60
Frequency

50

40

30

20

10

0
0 1
Garage

21
STATISTICAL METHOD

Descriptive Statistics: Baths

Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3

Baths 105 0 2.0810 0.0384 0.3930 1.5000 2.0000 2.0000 2.0000 GROUP
Variable Maximum
E-ZEE
Baths 3.0000

Histogram of Baths
70

60

50
Frequency

40

30

20

10

0
1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0
Baths

Histogram (with Normal Curve) of Baths

70 Mean 2.081
StDev 0.3930
N 105
60

50
Frequency

40

30

20

10

0
1.2 1.5 1.8 2.1 2.4 2.7 3.0
Baths

21
STATISTICAL METHOD

BAR CHARTS

GROUP
Chart of Garage E-ZEE
80

70

60

50
Count

40

30

20

10

0
0 1
Garage

Chart of Bedrooms

25

20

15
Count

10

0
2 3 4 5 6 7 8
Bedrooms

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STATISTICAL METHOD

Chart of Size GROUP

E-ZEE
20

15
Count

10

0
1600 1700 1900 2000 2100 2200 2300 2400 2500 2600 2700 2900
Size

Chart of Pool
70

60

50

40
Count

30

20

10

0
0 1
Pool

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STATISTICAL METHOD

Chart of Distance
GROUP
12 E-ZEE

10

8
Count

0
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 23 24 26 28
Distance

Chart of Twnship
30

25

20
Count

15

10

0
1 2 3 4 5
Twnship

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STATISTICAL METHOD

Chart of Baths GROUP

70
E-ZEE

60

50

40
Count

30

20

10

0
1.5 2.0 2.5 3.0
Baths

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STATISTICAL METHOD

Minitab Project Report

Descriptive Statistics: Price by bedrooms GROUP
Variable Bedrooms N N* Mean SE Mean StDev Minimum Q1 Median
E-ZEE
Price 2 24 0 200.35 8.90 43.61 125.00 175.33 193.30
3 26 0 214.45 6.81 34.72 166.20 187.93 212.15
4 26 0 213.57 7.50 38.24 155.40 175.90 212.85
5 11 0 226.0 10.4 34.5 186.7 188.3 209.7
6 14 0 252.1 15.7 58.6 147.4 191.5 258.4
7 2 0 303.20 8.90 12.59 294.30 * 303.20
8 2 0 328.1 17.3 24.4 310.8 * 328.1

Variable Bedrooms Q3 Maximum

Price 2 231.03 294.00
3 232.40 307.80
4 247.65 292.40
5 269.2 273.2
6 298.9 327.2
7 * 312.10
8 * 345.3

Histogram of Price by Bedrooms

120 160 200 240 280 320
2 3 4
8

0
5 6 7
Frequency

0
8 120 160 200 240 280 320
8

0
120 160 200 240 280 320
Price
Panel variable: Bedrooms

21
STATISTICAL METHOD

Histogram (with Normal Curve) of Price by Bedrooms

120 160 200 240 280 320 360
GROUP
2 3 4 2
8 E-ZEE
Mean 200.4
StDev 43.61
4 N 24
3
0 Mean 214.5
5 6 7
StDev 34.72
Frequency

8
N 26
4
4 Mean 213.6
StDev 38.24
0 N 26
8 120 160 200 240 280 320 360
8 5
Mean 226.0
StDev 34.46
4
N 11
6
0 Mean 252.1
120 160 200 240 280 320 360
StDev 58.59
Price N 14
Panel variable: Bedrooms 7
Mean 303.2
8

Descriptive Statistics: Price by size

Variable Size N N* Mean SE Mean StDev Minimum Q1 Median Q3

Price 1600 1 0 166.50 * * 166.50 * 166.50 *
1700 3 0 196.8 25.7 44.6 147.4 147.4 209.0 234.0
1900 9 0 198.6 12.3 36.8 125.0 182.1 192.9 228.1
2000 9 0 192.6 13.4 40.2 154.3 168.9 180.4 206.1
2100 20 0 225.2 11.0 49.3 139.9 188.3 208.4 268.2
2200 18 0 212.35 7.89 33.46 172.40 186.05 209.70 233.85
2300 17 0 219.90 7.33 30.21 164.10 191.35 221.10 245.30
2400 11 0 232.2 20.4 67.5 125.9 179.0 247.7 294.3
2500 7 0 233.0 20.5 54.2 175.0 186.7 217.8 270.8
2600 5 0 277.3 21.8 48.7 236.8 238.4 252.3 328.7
2700 2 0 269.1 25.4 35.9 243.7 * 269.1 *
2900 3 0 255.0 27.9 48.3 227.1 227.1 227.1 310.8

Variable Size Maximum

Price 1600 166.50
1700 234.0
1900 251.4
2000 289.8
2100 326.3
2200 273.20
2300 263.20
2400 312.1
2500 327.2
2600 345.3
2700 294.5
2900 310.8

21
STATISTICAL METHOD

Histogram of Price by Size GROUP

120 160 200 240 280 320 120 160 200 240 280 320
E-ZEE
1600 1700 1900 2000

0
2100 2200 2300 2400
Frequency

0
2500 2600 2700 2900

0
120 160 200 240 280 320 120 160 200 240 280 320
Price
Panel variable: Size

Histogram (with Normal Curve) of Price by Size

0 0 0 0 0 0 0 0 0 0 0 0 0 0
80 12 16 20 24 28 32 36 80 12 16 20 24 28 32 36
1600 1700 1900 2000 1600
4
Mean *
StDev *
2 N 1
1700
0 Mean 196.8
2100 2200 2300 2400
Frequency

StDev 44.57
4 N 3
1900
2
Mean 198.6
0
StDev 36.80
2500 2600 2700 2900 N 9
4 2000
Mean 192.6
2 StDev 40.21
N 9
0
2100
80 120 160 200 240 280 320 360 80 120 160 200 240 280 320 360
Mean 225.2
Price StDev 49.27
N 20
Panel variable: Size
2200
2300

21
STATISTICAL METHOD

Descriptive Statistics: Price by pool

Variable Pool N N* Mean SE Mean StDev Minimum Q1 Median Q3

Price 0 67 0 231.49 6.18 50.57 125.00 188.30 228.40 269.20 GROUP
1 38 0 202.80 5.47 33.71 147.40 176.13 198.60 220.95
E-ZEE
Variable Pool Maximum
Price 0 345.30
1 307.80

Histogram of Price by Pool

120 160 200 240 280 320
0 1
14

12

10
Frequency

0
120 160 200 240 280 320
Price
Panel variable: Pool

Histogram (with Normal Curve) of Price by Pool

120 160 200 240 280 320
0 1 0
14 Mean 231.5
StDev 50.57
12 N 67
1
10 Mean 202.8
Frequency

StDev 33.71
N 38
8

0
120 160 200 240 280 320
Price
Panel variable: Pool

21
STATISTICAL METHOD

Descriptive Statistics: Price by distance

Variable Distance N N* Mean SE Mean StDev Minimum Q1 Median

Price 6 1 0 224.00 * * 224.00 * 224.00 GROUP
7 4 0 268.2 15.9 31.8 243.7 244.3 258.4
8 7 0 231.3 16.2 42.7 179.0 188.1 227.1
E-ZEE
9 8 0 253.9 19.7 55.8 173.6 210.0 250.9
10 4 0 190.63 7.48 14.96 177.10 177.58 188.95
11 8 0 229.4 20.7 58.5 175.0 182.4 200.8
12 6 0 220.8 15.7 38.4 147.4 200.2 231.5
13 6 0 246.1 23.7 58.1 154.3 195.9 253.3
14 8 0 214.8 15.3 43.3 173.6 184.1 192.8
15 7 0 238.1 21.3 56.3 176.0 188.3 216.8
16 11 0 214.5 13.7 45.5 155.4 171.6 213.6
17 5 0 225.9 14.1 31.5 176.3 200.6 228.4
18 6 0 200.6 17.1 41.8 125.0 174.4 210.1
19 8 0 196.35 8.58 24.27 164.10 170.48 199.05
20 5 0 213.24 8.46 18.92 188.30 196.70 209.30
21 5 0 233.0 27.6 61.7 173.1 179.9 207.5
23 1 0 172.40 * * 172.40 * 172.40
24 2 0 182.50 6.90 9.76 175.60 * 182.50
26 1 0 187.00 * * 187.00 * 187.00
28 2 0 132.90 7.00 9.90 125.90 * 132.90

Variable Distance Q3 Maximum

Price 6 * 224.00
7 301.8 312.1
8 269.2 294.3
9 301.1 345.3
10 205.35 207.50
11 287.8 326.3
12 246.9 251.4
13 298.5 312.1
14 255.7 292.4
15 294.5 327.2
16 253.2 281.3
17 250.0 263.1
18 227.7 246.1
19 214.43 234.00
20 231.75 236.40
21 298.8 307.8
23 * 172.40
24 * 189.40
26 * 187.00
28 * 139.90

21
STATISTICAL METHOD

Histogram of Price by Distance

GROUP
120 160 200 240 280 320 120 160 200 240 280 320

6 7 8 9 10
E-ZEE
3.0

1.5

0.0
11 12 13 14 15
3.0
Frequency

1.5

0.0
16 17 18 19 20
3.0

1.5

0.0
21 23 24 26 28
3.0

1.5

0.0
120 160 200 240 280 320 120 160 200 240 280 320 120 160 200 240 280 320

Price
Panel variable: Distance

Histogram (with Normal Curve) of Price by Distance

0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 16 20 24 28 32 36 12 16 20 24 28 32 36

6 7 8 9 10
3.0 6
Mean *
1.5 StDev *
N 1
0.0
11 12 13 14 15 7
3.0
Mean 268.2
Frequency

1.5 StDev 31.77

N 4
0.0
16 17 18 19 20 8
3.0
Mean 231.3
1.5 StDev 42.75
N 7
0.0
21 23 24 26 28 9
3.0
Mean 253.9
1.5
StDev 55.76
N 8
0.0 10
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 16 20 24 28 32 36 12 16 20 24 28 32 36 12 16 20 24 28 32 36 Mean 190.6
Price StDev 14.96
N 4
Panel variable: Distance 11
12

21
STATISTICAL METHOD

Descriptive Statistics: Price by township

Variable Twnship N N* Mean SE Mean StDev Minimum Q1 Median GROUP

Price 1 15 0 196.91 9.24 35.78 125.90 176.00 199.00 E-ZEE
2 20 0 227.45 9.88 44.19 154.30 192.38 214.80
3 25 0 228.79 9.73 48.65 155.40 183.60 233.00
4 29 0 216.93 9.28 49.98 125.00 180.70 205.10
5 16 0 231.4 12.2 48.8 173.1 188.3 224.6

Variable Twnship Q3 Maximum

Price 1 224.00 245.40
2 267.15 307.80
3 258.75 327.20
4 254.75 345.30
5 267.7 326.3

Histogram of Price by Twnship

120 160 200 240 280 320
1 2 3

10.0

7.5

5.0
Frequency

2.5

0.0
4 5 120 160 200 240 280 320
10.0

7.5

5.0

2.5

0.0
120 160 200 240 280 320
Price
Panel variable: Twnship

Histogram (with Normal Curve) of Price by Twnship

120 160 200 240 280 320

1 2 3 1
Mean 196.9
10.0
StDev 35.78
7.5 N 15
2
5.0 Mean 227.5
StDev 44.19
Frequency

2.5
N 20
0.0 3
4 5 120 160 200 240 280 320 Mean 228.8
10.0 StDev 48.65
N 25
7.5
4
5.0 Mean 216.9
StDev 49.98
2.5 N 29
5
0.0
120 160 200 240 280 320
Mean 231.4
StDev 48.80
Price
N 16
Panel variable: Twnship

21
STATISTICAL METHOD

Descriptive Statistics: Price by garage

GROUP
Variable Garage N N* Mean SE Mean StDev Minimum Q1 Median E-ZEE
Price 0 34 0 185.45 4.80 28.00 125.00 170.33 186.85
1 71 0 238.18 5.33 44.88 166.20 198.90 236.40

Variable Garage Q3 Maximum

Price 0 207.50 242.10
1 269.90 345.30

Histogram of Price by Garage

120 160 200 240 280 320
0 1
14

12

10
Frequency

0
120 160 200 240 280 320
Price
Panel variable: Garage

Histogram (with Normal Curve) of Price by Garage

120 160 200 240 280 320
0 1 0
14 Mean 185.5
StDev 28.00
12 N 34
1
10 Mean 238.2
Frequency

StDev 44.88
N 71
8

0
120 160 200 240 280 320
Price
Panel variable: Garage

21
STATISTICAL METHOD

Descriptive Statistics: Price by bathrooms

GROUP
Variable Baths N N* Mean SE Mean StDev Minimum Q1 Median E-ZEE
Price 1.5 16 0 193.98 9.01 36.03 125.00 176.85 202.50
2.0 65 0 219.76 5.50 44.35 147.40 179.70 216.00
2.5 15 0 221.4 11.9 46.3 166.5 186.7 207.5
3.0 9 0 278.5 13.9 41.7 188.3 257.6 289.8

Variable Baths Q3 Maximum

Price 1.5 225.60 233.00
2.0 249.55 345.30
2.5 269.9 312.1
3.0 310.0 326.3

Histogram of Price by Baths

120 160 200 240 280 320
1.5 2.0
16

12

8
Frequency

0
2.5 3.0
16

12

0
120 160 200 240 280 320
Price
Panel variable: Baths

Histogram (with Normal Curve) of Price by Baths

120 160 200 240 280 320 360
1.5 2.0 1.5
16 Mean 194.0
StDev 36.03
12 N 16

8 2.0
Mean 219.8
Frequency

4 StDev 44.35
N 65
0 2.5
2.5 3.0
16 Mean 221.4
StDev 46.26
12 N 15
3.0
8 Mean 278.5
StDev 41.74
4 N 9

0
120 160 200 240 280 320 360
Price
Panel variable: Baths

21
STATISTICAL METHOD

GROUP
REFERENCES E-ZEE

Student CD-ROM Accompany

Statistical Technique in Business and Economics

Statistical Technique in Business and Economics

Book 14 Edition

MINITAB SYSTEM
V14

21
STATISTICAL METHOD

GROUP
AUTHORS E-ZEE

MOHD NAZIL BIN MEHAT

DL 0912995
run_d79@yahoo.com

MOHD MAHYUDDIN BIN ABDUL RAHIM

DL 0913287
mmdin_ar@yahoo.co.uk

MOHD SAIFUL ANUAR BIN HASNAN

DL 0916777
msa_clear@yahoo.com

RODZITA@ROZIMAH BINTI ABU BAKAR

DL 0911417
arodzita@yahoo.com

21