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QNT 561 Week 4 Individual Assignment - Descriptive Statistics and Interpretation - A+ Guide!

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RUNNING HEAD: Descriptive Statistics and Interpretation 1
Name
Assignment
QNT/561
Date

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RUNNING HEAD: Descriptive Statistics and Interpretation 2
Descriptive Statistics
Size in square feet
The distribution is not normally distributed
Central Tendency:
Median = 3014 square feet
Dispersion:
IQR = 1344.50 square feet
Count:
39 houses
Min/Max:
Min is 1908 sq. ft., Max is 4434 sq. ft.
Confidence Interval
(alpha = 0.05):
2914.01 sq. ft. to 3424.04 sq. ft.
The raw data is present in Appendix A; the histogram is present in Appendix B; the descriptive
statistics are present in Appendix C.
Renovation cost in dollars
The distribution is normally distributed
Central Tendency:
Mean = $5246.46
Dispersion:
Standard deviation = $534.73
Count:
39 houses
Min/Max:
Min is $164, Max is $15,873
Confidence Interval
(alpha = 0.05):
$4163.95 to $6328.91
The raw data is present in Appendix A; the histogram is present in Appendix B; the descriptive
statistics are present in Appendix C.
Descriptive Statistics Interpretation

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RUNNING HEAD: Descriptive Statistics and Interpretation 3
Size in square feet
The data is not normally distributed. 39 houses are surveyed. The house sizes range from
1908 sq. ft. to 4434 sq. ft., with a variation of ±1344.50 sq. feet. Approximately half of the data
points lie above 3014 sq. feet. The mode number of house sizes is 2430 square feet, meaning the
most frequent house size was 2430 square feet. We are 95% confident that the population house
size of shoppers at House Mart lies between 2914.01 square feet to 3424.04 square feet;
however, since the distribution is not normally distributed, the confidence interval is not
applicable.
Renovation cost in dollars
The data is normally distributed. 39 houses are surveyed. The house sizes range from
$164 to $15,873. The average cost of renovations is $5246.46, with a standard deviation of
$534.73. Approximately half of the data points lie above $5347. There is no mode cost of
renovations. We are 95% confident that the population cost of renovation people spend at House
Mart is between $4163.95 and $6328.91.
Scatterplot
The scatterplot in Appendix D shows the graph of renovation costs vs house sizes. The
scatterplot and the trend line show that no relationship exist between the two since the slope is
almost zero.

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