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In: Statistics and Probability

HOUSE PRICE YRSOLD HSQFT LOTSFT YRBUILT PRICE_PER_SQFT NEB 1 $536,000 2009.00 1,500 4,000 1930 $357 WESTERLEIGH...

HOUSE PRICE YRSOLD HSQFT LOTSFT YRBUILT PRICE_PER_SQFT NEB
1 $536,000 2009.00 1,500 4,000 1930 $357 WESTERLEIGH
2 $498,000 2009.00 1,563 6,100 1950 $318 WESTERLEIGH
3 $506,500 2009.00 1,536 4,000 1950 $329 WESTERLEIGH
4 $630,000 2009.00 1,152 4,000 1949 $546 WESTERLEIGH
5 $455,000 2009.00 1,214 2,775 1925 $374 WESTERLEIGH
6 $265,000 2009.00 1,627 1,800 1985 $190 WESTERLEIGH
7 $347,500 2009.00 1,100 4,500 1950 $315 WESTERLEIGH
8 $320,000 2009.00 1,104 3,000 1925 $289 WESTERLEIGH
9 $535,000 2009.00 2,400 3,879 2000 $222 WESTERLEIGH
10 $456,300 2009.00 1,650 2,552 2007 $277 WESTERLEIGH
11 $440,000 2009.00 1,124 2,405 1930 $391 WESTERLEIGH
12 $413,000 2009.00 1,410 3,600 1955 $292 WESTERLEIGH
13 $320,000 2009.00 1,740 7,230 1950 $183 WESTERLEIGH
14 $270,000 2009.00 1,080 1,590 1925 $250 WESTERLEIGH
15 $375,000 2009.00 1,158 4,500 1920 $323 WESTERLEIGH
16 $485,000 2009.00 1,685 5,000 1925 $287 WESTERLEIGH
17 $448,000 2009.00 1,776 3,000 1915 $252 WESTERLEIGH
18 $425,000 2009.00 1,148 6,100 1955 $370 WESTERLEIGH
19 $376,500 2009.00 1,237 3,000 1920 $304 WESTERLEIGH
20 $350,000 2009.00 890 3,600 1920 $393 WESTERLEIGH
21 $470,000 2009.00 1,205 5,900 1955 $390 WESTERLEIGH
22 $420,000 2009.00 1,207 3,828 1945 $347 WESTERLEIGH
23 $410,000 2009.00 1,256 3,600 1930 $342 WESTERLEIGH
24 $440,000 2009.00 900 3,600 1960 $488 WESTERLEIGH
25 $395,000 2009.00 1,176 3,920 1930 $335 WESTERLEIGH
26 $355,000 2009.00 1,296 3,000 1940 $304 WESTERLEIGH
27 $415,000 2009.00 1,092 4,000 1960 $380 WESTERLEIGH
28 $495,000 2009.00 1,950 3,600 1920 $253 WESTERLEIGH
29 $355,425 2009.00 1,600 1,744 1993 $222 WESTERLEIGH
30 $410,000 2009.00 1,440 3,742 1965 $284 WESTERLEIGH
31 $447,500 2009.00 1,450 3,000 1970 $308 WESTERLEIGH
32 $420,000 2009.00 1,420 3,758 2006 $296 WESTERLEIGH
33 $455,000 2009.00 1,427 3,800 1920 $318 WESTERLEIGH
34 $380,000 2009.00 1,480 2,100 1970 $256 WESTERLEIGH
35 $400,000 2009.00 1,512 4,000 1960 $264 WESTERLEIGH
36 $310,000 2009.00 1,240 960 1993 $250 WESTERLEIGH
37 $365,000 2009.00 840 5,000 1955 $434 WESTERLEIGH
38 $370,000 2009.00 1,280 3,456 1965 $289 WESTERLEIGH
39 $415,000 2009.00 1,820 4,200 1960 $228 WESTERLEIGH
40 $419,796 2009.00 1,592 7,575 1930 $263 WESTERLEIGH
41 $380,000 2009.00 1,280 3,408 1965 $296 WESTERLEIGH
42 $410,000 2009.00 1,332 2,800 1970 $307 WESTERLEIGH
43 $435,000 2009.00 1,660 2,373 1995 $262 WESTERLEIGH
44 $515,000 2009.00 1,712 5,880 1930 $300 WESTERLEIGH
45 $370,000 2009.00 1,450 4,000 1955 $255 WESTERLEIGH
46 $429,000 2009.00 4,040 4,040 1950 $106 WESTERLEIGH
47 $295,000 2009.00 1,320 2,000 1940 $223 WESTERLEIGH
48 $520,000 2009.00 1,500 5,000 1960 $346 WESTERLEIGH
49 $410,000 2009.00 1,500 3,000 1925 $273 WESTERLEIGH
50 $379,000 2009.00 926 4,000 1955 $409 WESTERLEIGH
51 $487,500 2009.00 2,472 3,420 1970 $197 MARINER
52 $425,000 2009.00 2,400 3,800 1975 $177 MARINER
53 $370,000 2009.00 2,100 5,500 1935 $176 MARINER
54 $300,000 2009.00 1,870 2,500 1920 $160 MARINER
55 $385,000 2009.00 1,340 2,500 1925 $287 MARINER
56 $265,000 2009.00 1,992 3,591 1975 $133 MARINER
57 $300,000 2009.00 2,416 3,325 1980 $124 MARINER
58 $339,000 2009.00 1,820 2,850 1920 $186 MARINER
59 $350,000 2009.00 1,650 2,500 1903 $212 MARINER
60 $460,000 2009.00 1,744 4,419 2008 $263 MARINER
61 $214,200 2009.00 1,270 5,721 1925 $168 MARINER
62 $270,000 2009.00 2,200 1,512 1931 $122 MARINER
63 $220,000 2009.00 1,408 2,560 1901 $156 MARINER
64 $290,000 2009.00 1,540 4,950 1901 $188 MARINER
65 $335,000 2009.00 2,800 2,880 1920 $119 MARINER
66 $400,000 2009.00 2,052 5,900 1920 $194 MARINER
67 $485,000 2009.00 1,884 2,886 1975 $257 MARINER
68 $500,000 2009.00 2,080 4,326 1970 $240 MARINER
69 $414,726 2009.00 2100 3,594 2005 $197 MARINER
70 $415,740 2009.00 1,400 3,594 2005 $296 MARINER
71 $560,000 2009.00 2,568 4,000 1970 $218 MARINER
72 $390,100 2009.00 1,896 3,630 1970 $205 MARINER

You have downloaded the MS_Excel file with data on the prices of homes in two neighborhoods around the City of New York. The data is taken from Staten Island.

Using the MS_Excel, calculate:

a. The Average and the Standard Deviation for Sale Price for houses in the two neighborhoods

b. The Average and the Standard Deviation for Sale Price Per Square Foot for houses in the two neighborhoods

c. The Average and the Standard Deviation for Age of houses in the two neighborhoods. Please note that you must calculate the Age of each house sold. Take note also that all houses were sold in 2009.

d. Present you results on the Averages in tables and a charts.

e. List at least four reasons that you think that the Average price of houses in one neighborhood will be different from the other neighborhood.

Solutions

Expert Solution

a. b. and c. are:

For mean, function = average()

For standard deviation, function = stdev.p()

No. P YR HSQFT LOTSFT YRBUILT P_PER_SQFT NEB Age
1 536000.00 2009 1,500 4,000 1930 357 W 79
2 498000.00 2009 1,563 6,100 1950 318 W 59
3 506500.00 2009 1,536 4,000 1950 329 W 59
4 630000.00 2009 1,152 4,000 1949 546 W 60
5 455000.00 2009 1,214 2,775 1925 374 W 84
6 265000.00 2009 1,627 1,800 1985 190 W 24
7 347500.00 2009 1,100 4,500 1950 315 W 59
8 320000.00 2009 1,104 3,000 1925 289 W 84
9 535000.00 2009 2,400 3,879 2000 222 W 9
10 456300.00 2009 1,650 2,552 2007 277 W 2
11 440000.00 2009 1,124 2,405 1930 391 W 79
12 413000.00 2009 1,410 3,600 1955 292 W 54
13 320000.00 2009 1,740 7,230 1950 183 W 59
14 270000.00 2009 1,080 1,590 1925 250 W 84
15 375000.00 2009 1,158 4,500 1920 323 W 89
16 485000.00 2009 1,685 5,000 1925 287 W 84
17 448000.00 2009 1,776 3,000 1915 252 W 94
18 425000.00 2009 1,148 6,100 1955 370 W 54
19 376500.00 2009 1,237 3,000 1920 304 W 89
20 350000.00 2009 890 3,600 1920 393 W 89
21 470000.00 2009 1,205 5,900 1955 390 W 54
22 420000.00 2009 1,207 3,828 1945 347 W 64
23 410000.00 2009 1,256 3,600 1930 342 W 79
24 440000.00 2009 900 3,600 1960 488 W 49
25 395000.00 2009 1,176 3,920 1930 335 W 79
26 355000.00 2009 1,296 3,000 1940 304 W 69
27 415000.00 2009 1,092 4,000 1960 380 W 49
28 495000.00 2009 1,950 3,600 1920 253 W 89
29 355425.00 2009 1,600 1,744 1993 222 W 16
30 410000.00 2009 1,440 3,742 1965 284 W 44
31 447500.00 2009 1,450 3,000 1970 308 W 39
32 420000.00 2009 1,420 3,758 2006 296 W 3
33 455000.00 2009 1,427 3,800 1920 318 W 89
34 380000.00 2009 1,480 2,100 1970 256 W 39
35 400000.00 2009 1,512 4,000 1960 264 W 49
36 310000.00 2009 1,240 960 1993 250 W 16
37 365000.00 2009 840 5,000 1955 434 W 54
38 370000.00 2009 1,280 3,456 1965 289 W 44
39 415000.00 2009 1,820 4,200 1960 228 W 49
40 419796.00 2009 1,592 7,575 1930 263 W 79
41 380000.00 2009 1,280 3,408 1965 296 W 44
42 410000.00 2009 1,332 2,800 1970 307 W 39
43 435000.00 2009 1,660 2,373 1995 262 W 14
44 515000.00 2009 1,712 5,880 1930 300 W 79
45 370000.00 2009 1,450 4,000 1955 255 W 54
46 429000.00 2009 4,040 4,040 1950 106 W 59
47 295000.00 2009 1,320 2,000 1940 223 W 69
48 520000.00 2009 1,500 5,000 1960 346 W 49
49 410000.00 2009 1,500 3,000 1925 273 W 84
50 379000.00 2009 926 4,000 1955 409 W 54
51 487500.00 2009 2,472 3,420 1970 197 M 39
52 425000.00 2009 2,400 3,800 1975 177 M 34
53 370000.00 2009 2,100 5,500 1935 176 M 74
54 300000.00 2009 1,870 2,500 1920 160 M 89
55 385000.00 2009 1,340 2,500 1925 287 M 84
56 265000.00 2009 1,992 3,591 1975 133 M 34
57 300000.00 2009 2,416 3,325 1980 124 M 29
58 339000.00 2009 1,820 2,850 1920 186 M 89
59 350000.00 2009 1,650 2,500 1903 212 M 106
60 460000.00 2009 1,744 4,419 2008 263 M 1
61 214200.00 2009 1,270 5,721 1925 168 M 84
62 270000.00 2009 2,200 1,512 1931 122 M 78
63 220000.00 2009 1,408 2,560 1901 156 M 108
64 290000.00 2009 1,540 4,950 1901 188 M 108
65 335000.00 2009 2,800 2,880 1920 119 M 89
66 400000.00 2009 2,052 5,900 1920 194 M 89
67 485000.00 2009 1,884 2,886 1975 257 M 34
68 500000.00 2009 2,080 4,326 1970 240 M 39
69 414726.00 2009 2100 3,594 2005 197 M 4
70 415740.00 2009 1,400 3,594 2005 296 M 4
71 560000.00 2009 2,568 4,000 1970 218 M 39
72 390100.00 2009 1,896 3,630 1970 205 M 39
Mean= 401649.82 271.74 58.14
stdev= 80260.08 85.74 27.89

d.

e. Reasons:

All the above four variables are different for both the nbrs

Please rate my answer and comment for doubt

orchestra answered 2 years ago
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