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Essay Available:
Pages:
10 pages/≈2750 words
Sources:
2 Sources
Style:
APA
Subject:
Mathematics & Economics
Type:
Statistics Project
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 51.84
Topic:

Real Estate Managerial Report (MTH410)

Statistics Project Instructions:

MTH410: Quantitative Business Analysis Portfolio Project
The portfolio project for MTH410 consists of two separate case studies:
Part 1: Gulf Real Estate Properties, worth 160 points Part 2: Bayview case study, worth 350 points.
Total points for the entire portfolio project = 510 points
The two parts should be submitted together in one file. For both projects you are required to submit an Excel spreadsheet. You may submit those separately but be sure to name the files appropriately.
Part 1: Gulf Real Estate Properties (160 points)
Gulf Real Estate Properties, Inc., is a real estate firm located in southwest Florida. The company, which advertises itself as an “expert in the real estate market,” monitors condominium sales by collecting data on location, list price, sale price, and number of days it takes to sell each unit. Each condominium is classified as Gulf View if it is located directly on the Gulf of Mexico or No Gulf View if it is located on the bay or a golf course, near but not on the Gulf. Sample data from the Multiple Listing Service in Naples, Florida, provided sales data for 40 Gulf View condominiums and 18 No Gulf View condominiums. The complete data set is in the file named Real Estate.
Managerial Report
Prepare a report ( see below) that summarizes your assessment of the nature of the housing market in southwest Florida. Be sure to include the following seven (7) items in your report.
1. Use appropriate descriptive statistics (5-number summary, mean, mode, range and standard deviation) to summarize each of the three variables for the 40 Gulf View condominiums. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to determine if there were or not.
2. Use appropriate descriptive statistics (5-number summary, mean, mode, range and standard deviation) to summarize each of the three variables for the 18 No Gulf View condominiums. Are there any outliers in the data set for any of the three variables? If there are any outliers in any category, please list them and state for which category they are an outlier. Describe which method you used to determine if there were or not.
3. Compare your summary results from #1 & #2. Discuss any specific statistical results that would help a real estate agent understand the condominium market.

Statistics Project Sample Content Preview:

Real Estate Managerial Report
Name
College
Course Title
Professor
Date
Real Estate Managerial Report
Introduction
In today’s business world, conducting market surveys is important as far as the success of the company is concerned. It is not an exemption for Gulf Real Estate Property Company. The company must conduct regular market surveys to identify the performance of its different products. This information helps any company to re-strategize thus promoting its competitiveness. Information relating to the sale price and the number of days that a company takes before selling a unit is important as far as decision-making is concerned. This paper analyzes data relating to the location, sale price, list price, as well as, the number of days the company takes before selling one unit of condominiums.
Descriptive statistics
List price
5-number summary
The five-number, summary is a key descriptive statistics, which involves calculating the minimum figure, the maximum figure, the first quartile, the third quartile and the median. It gives an individual the general view of the data. It as well helps one to calculate some statistics, for example, the inter quartile range.
The minimum = 200
The maximum = 962
The median = 639
1st quartile = 467.5
3rd quartile = 834
The minimum value is 200 indicating that the lowest list price for the condominiums is 200. The maximum list price is 639, which is the highest price that the real estate experts are willing to sell the condominiums. The median is 639, which is the average price for the condominiums. On the other hand, the first quartile and the third quartiles are 467.5 and 834 respectively. They can help in the inter-quartile range, which is 366.5.
The mean
The mean for the list price is 629, meaning that the average price on the list for the condominiums is 629. In other words, the real estate firm is willing to sell its condominium at 629, on average. ...
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