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Answers to the assignment tasks must be based on the sample data file that you created in Part I of the assignment. Most tasks in Part II of the assignment require you to obtain an Excel output prior to performing some analysis. Copy and paste these outputs to your assignment MS Word document immediately preceding any subsequent analysis. Explanations must be precise and to the point. Charts and tables must have appropriate titles and numerical values must be rounded to an appropriate number of decimal places and accompanied by the correct units of measure.
There are four tasks in Part II of the assignment. You must meet all task requirements to receive full marks. No marks will be awarded to a task that requires an Excel output, if a print copy of the output has not been included with your answer. No marks will be awarded if only the Excel outputs are submitted without comments, explanations or the analysis required in the task.
The total mark available for the entire assignment is 60. The total mark you receive for your assignment will be converted to a mark out of 20 before being aggregated with your test and examination marks to produce your final result for the unit.
Task 2 (6 marks)
Use Excel to produce a Frequency Column Chart and a Relative Frequency Pie-Chart for your sample to show the number and proportion, respectively, of each building type.
Use these graphical summaries to answer the following questions:
(a) How many properties in your sample consist of brick buildings?
(b) Which building type occurs most frequently in your sample?
(c) What proportion of properties in your sample consists of weatherboard buildings?
Task 3 (7 marks)
Use Excel to produce a Frequency Histogram for the “Advertised Price” variable in your sample. Without generating numerical summary measures for this data, use this histogram to describe:
(a) Any tendency for the data to cluster/concentrate around a particular value or group of values.
(b) The variability of the data.
(c) The shape of the data.
Task 4 (7 marks)
(a) Use Excel to sort your sample “Sold Price” data and paste into your MS Word assignment document.
(b) Use the percentile location formula;
, and the three associated rules to determine:
(i) The 70th percentile.
(ii) The first and third quartiles.
(c) Briefly explain what the 70th percentile that you have determined informs you about your sample “Sold Price” data.
(d) Determine the Inter-Quartile Range of your sample “Sold Price” data and provide a brief explanation of what information this statistic provides about your sample data.
Task 5 (7 marks)
(a) Use Excel to produce a Descriptive Statistics table for your sample “Sold Price” data and paste into your MS Word assignment document.
(b) Use results from Task 4 to determine manually for this data, the upper and lower inner fence limits;
IFUL = Q3 + 1.5 x IQR
and IFLL = Q1 – 1.5 x IQR
(c) Based on the limits calculated in (b), choose from the numerical summary measures provided in the Descriptive Statistics table, and/or measures calculated previously in Task 4;
(i) an appropriate measure of central tendency, and,
(ii) an appropriate measure of dispersion for your sample “Sold Price” data.
Provide a brief explanation of the reasoning behind your choice in both cases.