Spss Assignment

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SPSS Assignment

Suppose we have captured 1,500 records from Century 21 Real Estate Company. They have recorded the properties’ market values at Dec 31, 2010 & Dec 31, 2011.

1. Draw a histogram with properties’ building footages, and their market value in 2011. Discuss the characteristics of those 2 distributions.

2. Test whether the average property market value in 2011 is significantly different from $4,750,000 at 1% level of significance.

3. Suppose the 1,500 properties are separated into 2 districts: T.S.T. (Group 1) & Jordan (Group2). Test whether there is any difference between the 2 districts in year of 2010 at 1% level of significance (Assume Equal Variances).

4. Test whether the average property market value in 2010 is significantly different from those in 2011 at 3% level of significance.

Answers:

1. Draw a histogram with properties’ building footages, and their market value in 2011. Discuss the characteristics of those 2 distributions.

Answer:

The histograms, one shows the properties by their market values while another by their sizes in 2011 are showed below. The values of skewness and kurtosis of the first histogram in Figure 1.1 (that is, by the property market values) are 0.201 and -1.112 respectively, while the values for a normal distribution should be both zero (Table 1.1). The skewness value of 0.201 shows a slight pile-up of scores on the left of the distribution (the mean of $4.62 million is still close to the median of $4.36 million). The kurtosis value of -1.112 (a negative value) indicates the tails of the distributions are lighter than that of normal distribution.

Figure 1.1

On the other hand, the values of skewness and kurtosis of the second histogram in Figure…...

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