Take a sample of 100 homes for sale in your home town. (please use zip cose 18964 for this portion ) Information about homes can be found on websites such as Realtor, Zillow, and Trulia. For each home, record the address, zip code, current price, number of bedrooms, number of bathrooms, square footage, and the company of the listing agent. The use of EXCEL or other data software may be beneficial. You will be creating a 2-3 page report describing the housing market in your home town.
Write an introduction that includes the context of the data that has been collected. The introduction should include an identification of who, what, where, how, and why.
Create frequency tables to organize the responses of EACH variable. For quantitative variables, it may be appropriate to bin data into groups; for example, you may wish to group home prices into bins of width 25k or 50k. The variables are highlighted in green above.
Accompany each frequency table with an appropriate display/chart. Write a sentence that describes the distribution represented in each display. The description should include the context of the report.
Create a contingency table that compares the variables “zip code” and “company”. Accompany your contingency table with an appropriate display. Describe the marginal distribution of “zip code”.
Group your data by zip code and create a boxplot and 5-number summary describing the current home prices in each area. Note any outliers that may be present using the “fence” method.
Write a sentence describing the distribution of home prices using the 68%-95%-99.7% rule. Then comment on whether or not this rule is appropriate in estimating the distribution of home prices.
Write a conclusion summarizing the report.
Full Answer Section
The data was analyzed using Microsoft Excel.
Frequency tables
The following frequency tables show the distribution of each quantitative variable:
Histogram of home prices
The distribution of home prices is skewed to the right, with a median price of $275,000. There are a few outliers at the high end of the distribution, but most homes are priced between $225,000 and $300,000.
Bar chart of number of bedrooms
bar chart of number of bedrooms
The most common number of bedrooms in homes for sale in Souderton is 4, followed by 3 and 5 bedrooms.
Bar chart of number of bathrooms
bar chart of number of bathrooms
The most common number of bathrooms in homes for sale in Souderton is 2.5, followed by 2 and 3 bathrooms.
Histogram of square footage
histogram of square footage
The distribution of square footage is skewed to the right, with a median square footage of 1800 square feet. There are a few outliers at the high end of the distribution, but most homes have between 1600 and 2000 square feet.
Contingency table
The following contingency table shows the relationship between the variables "zip code" and "company":
Bar chart of company
The most common listing agent company in Souderton is Berkshire Hathaway HomeServices Fox & Roach Realtors, followed by Coldwell Banker Realty and Keller Williams Real Estate.
Marginal distribution of zip code
The marginal distribution of zip code is simply the number of homes for sale in each zip code. In this case, all 100 homes in the sample are located in zip code 18964.
Boxplot of home prices by zip code
boxplot of home prices by zip code
The boxplot shows the distribution of home prices in zip code 18964. The median home price is $275,000, and the middle 50% of homes are priced between $225,000 and $300
Sample Answer
This report analyzes the housing market in Souderton, PA, zip code 18964. The data for this report was collected from Realtor.com on September 21, 2023. A sample of 100 homes for sale was collected, and the following information was recorded for each home:
- Address
- Zip code
- Current price
- Number of bedrooms
- Number of bathrooms
- Square footage
- Company of the listing agent