Question

Sale Price	List Price	Days to Sell	Gulf View
475	495	130	1
350	379	71	1
519	529	85	1
534.5	552.5	95	1
334.9	334.9	119	1
505	550	92	1
165	169.9	197	1
210	210	56	1
945	975	73	1
314	314	126	1
305	315	88	1
800	885	282	1
975	975	100	1
445	469	56	1
305	329	49	1
330	365	48	1
312	332	88	1
495	520	161	1
405	425	149	1
669	675	142	1
400	409	28	1
649	649	29	1
305	319	140	1
410	425	85	1
340	359	107	1
449	469	72	1
875	895	129	1
430	439	160	1
400	435	206	1
227	235	91	1
618	638	100	1
600	629	97	1
309	329	114	1
555	595	45	1
315	339	150	1
200	215	48	1
375	395	135	1
425	449	53	1
465	499	86	1
428.5	439	158	1
217	217	182	0
135.5	148	338	0
179	186.5	122	0
230	239	150	0
267.5	279	169	0
214	215	58	0
259	279	110	0
176.5	179.9	130	0
144.9	149.9	149	0
230	235	114	0
192	199.8	120	0
195	210	61	0
212	226	146	0
146.5	149.9	137	0
160	160	281	0
292.5	322	63	0
179	187.5	48	0
227	247	52	0

Create a box plot for each of the three variables, with Gulf View and No Gulf View condos represented by a separate box. Compare the distributions between the two groups along with the statistics in question (1). Discuss any specific statistical results that would help a real estate agent understand the condominium market. ( Gulf View condos are denoted by “1” in the Gulf View column, whereas No Gulf View condos are denoted by “0”. Prices are in thousands of dollars.)

Answer 1

From the box plot, it is observed that there are few outliers in the same price of Gulf View, list price of Gulf View, days to sell for Gulf View, and days to sell for no Gulf View.

The middle line of the box in the box plot indicates the measure of symmetry. If the line is close to the center of the box and the whisker lengths are the same then the sample is from the symmetric (Normal) population. If the top whisker is much longer than the bottom whisker and the line is gravitating towards the bottom of the box, then the sample is from a population which is skewed to the right. If The bottom whisker is much longer than the top whisker and the line is rising to the top of the box, then the sample is from the population which is skewed to the left.

It is evident from the boxplot that the distribution of sale price, list price, and days to sell of gulf view is positively skewed. The distribution of days to sell for no girls view is also positively skewed. However, the distribution of sale price and the list price for no gulf view is approximately normally distributed.

The same result is obtained from the histogram in part 1.