Question

Descriptive Statistic	Price	Living Area (Square Feet)	Number of Bedrooms	Number of Bathrooms	Age (Years)
Mean	160695.775	1733.874	3.136	1.8805	27.871
Standard Error	2132.773719	17.45410352	0.022891658	0.019322088	1.012996802
Median	148829.5	1656	3	2	18
Mode	139079	1480	3	2.5	1
Standard Deviation	67444.22686	551.9472165	0.723897802	0.611018079	32.03377158
Sample Variance	4548723737	304645.7299	0.524028028	0.373343093	1026.162522
Kurtosis	3.889356216	-0.420418335	-0.363359978	-1.004482917	5.291745807
Skewness	1.371395188	0.478357102	0.010298402	0.018867528	2.173487195
Range	552807	2785	4	3	208
Minimum	26049	672	1	1	0
Maximum	578856	3457	5	4	208
Sum	160695775	1733874	3136	1880.5	27871
Count	1000	1000	1000	1000	1000

Describe what the tabular data indicates about the central tendency, variability and distribution of each variable. For example, do the variables appear to be distributed in a symmetric or skewed pattern.

Answer 1

Sol:

Price

For Price mean=160695.775

median=148829.5

mean>median

Price is positvely skewed

standard deviation is 67444.22686

since standard deviation is high there is more variability in the observed values.

measure of center:median

measure of dispersion:range

Living Area (Square Feet

For living area, mean=1733.874

median=1656

mean>median

living area is positively skewed

standard deviation is 551.9472165

since standard deviation is high there is more variability in the observed values.

measure of center:median

measure of dispersion:range

Number of Bedrooms

For number of bed rooms, mean=3.136

median=3

mean is approximately equal to median equal to

living area is normal distributed

shape is symmetrical

since standard deviation is less there is less variability in the observed values.

Measure of center:mean

measure of dispersion:standard deviation

Number of Bathrooms

For number of bath rooms, mean=1.8805

median=2

mean is less than median

distribution is negatively skewed

since standard deviation is less there is less variability in the observed values.

measure of center:median

measure of dispersion:range

Age (Years)

For age

mean=27.871

median=18

mean>median

Distribution is positively skewed

since standard deviation is high,more variability in the observed values

measure of center:median

measure of variation:range