Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader

Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

QBM117 Business Statistics

tag 0 Download 7 Pages / 1,623 Words tag 02-07-2021

Questions:

Question 1:

Download the data set ‘auction data.xls’ from the Assignment folder in the resources section of Interact. The data given in the worksheet tab “Data” show the sales results (as compiled by the Australian Property Manager (APM)) for properties listed for auction in Sydney on Saturday 20 May, 2017. The variables in this data set are: Suburb, Address, Bedrooms, Type, Price, Result and Agent. The key for entries in the variable Type and Result are provided in the worksheet tab ‘Key’.

  1. Identify a variable from the data set which is both
  2. qualitative and nominal;
  3. qualitative and ordinal;
  4. quantitative and ratio;
  5. quantitative and ordinal.

If you believe there is no variable which satisfies both labels then state ‘no variable’

Question 2:

Copy and then complete the table below by matching the correct overall outcome to the appropriate results. Use the information given in the worksheet tab ‘key’ in the data set when completing the table.

Overall Outcomes: Sold prior to the auction, sold at the auction, sold after the auction,

Most real data sets you encounter will contain problem data such as typographical errors, transcription errors, coding errors and possible outliers. This data set is no exception. In a real situation, we would make a note of these anomalies and ask for them to be investigated or checked. Since we cannot contact the owner of this data set, for the purpose of this assignment, we will ignore the anomalies and work with the data as best we can. Read the document ‘working with real data sets.pdf’ found in the Assignment folder, which explains some ways of identifying errors in a data set and how to deal with them.

  1. There are four properties where the number of bedrooms is missing from the data set.
  2. Identify these four properties by Suburb and Address.
John and Julie are property owners in the Sydney region and are planning to sell their four bedroom house over the next few months. They are considering putting it up for auction and are concerned the market may be slowing so are interested in using these data to gain an insight into the current Sydney auction market. Using the complete data set, generate a three way pivot table report of ‘type’ by ‘bedrooms’ by ‘result’. Use ‘type’ and ‘bedrooms’ as row labels.

Hint: Include ‘result’ in both the column and in the body of the table. (3 marks)

Question 3:

Use the data in the pivot table to answer the following vendors’ questions in parts e. and f., about the properties listed for auction in Sydney on 20 May 2017.

Hint: You may find it easier to read the table if you right justify the column labels (along the top of the table).

John and Julie would like to calculate the clearance rate for all properties listed for auction that week.
  1. How many properties were originally listed for auction for the day in question?
  2. How many of these were sold (at auction, prior or after)?
  3. Express the number of properties sold (at auction, prior or after) as a percentage of all properties listed for auction.
Given that they will be selling their four bedroom house soon, they are also interested in the clearance rate of all four bedroom houses that week. They would like to compare the clearance rate of four bedroom houses with the overall clearance rate .
  1. How many four bedroom houses were originally listed for auction for the day in question?
  1. How many of these were sold (at auction, prior or after)?
  2. Express the number of four bedroom houses sold (at auction, prior or after) as a percentage of all four bedroom houses listed for auction.
Was the clearance rate for four bedroom houses worse, the same or better than the clearance rate for all properties that week?
 
John and Julie would like to compare the sales outcomes of all the properties that were listed for auction that week.
 
For all the properties that were listed for auction that week, generate a two way pivot table of ‘Type’ by ‘Result’.

Question 4:

Hint: Include ‘Result’ in both the column and in the body of the table. Also, you may find it easier to read the table if you right justify the column labels (along the top of the table).

  1. Use this pivot table to generate a single horizontal 100% component bar chart with type along the vertical axis and the different types of ‘result’ making up the components of each of the four bars. Once generated hide the field buttons and insert an appropriate label on the vertical axis and an appropriate title on the chart.
  1. Use the graph to identify the two types of properties which had approximately the same proportion of properties passed in that week.

Include both the pivot table and the component bar chart generated in parts i. and

  1. with your assignment submission.
  2. No pivot table provided Pivot table generated using Excel but one or more flaws Pivot table generated correctly using Excel
  1. Bar chart notprovided

100% component bar chart generated correctly in Excel but with 3 or 4 errors in chart) missing labels/titles, field buttons not hidden, legend missing)

100% component bar chart generated correctly in Excel but with 1 or 2 errors in chart (missing labels/titles, field buttons not hidden,legend missing) 100% component bar chart generated correctly using Excel with field buttons hidden, appropriate title and label and legend

Question 5:

Sort the data by the ‘type’ variable and then extract the house data only to a separate file. We will use this new file to generate a table of descriptive statistics for the variable ‘price’. We first need to clean up the data set however so we can calculate the correct descriptive statistics. You might like to make a copy of this new file before you start deleting entries just in case you delete an entry you shouldn’t have.
  • Sort the house data in the new file by ‘result’.
  • Delete any results for which there are no selling prices.
  • You will notice that there are some properties which were passed in yet have a price recorded. Each of these is clearly an error since the property was not sold. This price may represent the highest bid, which was below the reserve and hence passed in. In any case since the property was not sold the price is not the selling price of the property.
  • There are prices associated with the result vendor bid. As these represent bids made by the vendor only, not selling prices,they should also be deleted.
  • There is one other error in the sold result which must be deleted. You will need to find this before continuing or you may have already deleted it earlier.
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 7 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). QBM117 Business Statistics. Retrieved from https://myassignmenthelp.com/free-samples/qbm117-business-statistics/introductioton-probability-models.html.

My Assignment Help (2021) QBM117 Business Statistics [Online]. Available from: https://myassignmenthelp.com/free-samples/qbm117-business-statistics/introductioton-probability-models.html
[Accessed 02 February 2023].

My Assignment Help. 'QBM117 Business Statistics' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/qbm117-business-statistics/introductioton-probability-models.html> accessed 02 February 2023.

My Assignment Help. QBM117 Business Statistics [Internet]. My Assignment Help. 2021 [cited 02 February 2023]. Available from: https://myassignmenthelp.com/free-samples/qbm117-business-statistics/introductioton-probability-models.html.


Stuck on Any Question

Our best expert will help you with the answer of your question with best explanation.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

loader
250 words
Error goes here

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

We Can Help!

Get top notch assistance from our best tutors !
Excel in your academics & career in one easy click!

icon

Other Samples

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the content removal request.

icon

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?
close
Subtraction Payment required!

Only one step away from your solution of order no.