Question
1. Access rental property details from one of the above online sources, select a specific state (NSW, QLD, SA, TAS. VIC or WA), and prepare
1. Access rental property details from one of the above online sources, select a specific state (NSW, QLD, SA, TAS. VIC or WA), and prepare able with a minimum of 50 observations Variable required a. Weekly rent b. Number of bedrooms (minimum of 10 property details in each for houses with 1, 2, 3 and 4 bedrooms) c. Number of car space d. Number of bathrooms e. Date Available f. Bond g. Hyperlink for the selected rental property Note: You must use the most recent data, share the details on data sources and are not allowed to use hypothetical data.
2. Perform descriptive statistical analysis and prepare a table with the following descriptive measures for the Weekly rent variable in your data set. Mean, median, mode, variance, standard deviation, skewness, kurtosis, coefficient of variation.
3. Critically review the descriptive statistics in part (2) and explain the nature of the distribution of those variables. 4. Derive a suitable graph to represent the relationship between weekly rent and other variables in your data set. (Relationship between weekly rent and no of bedrooms, the relationship between weekly rent and no of car space, the relationship between weekly rent and no of bathrooms)
5. Based on the data set, perform a correlation analysis between Weekly rent, No of bedrooms, No of car space, and No of bathrooms.
6. Comment on the observed trends between variables based on the answer for Q4 and Q5.
7. Based on the data set, perform a simple regression analysis to assess whether no of bedrooms is a determinant of weekly rent and answer the questions below
a. Derive the simple regression equation and Interpret the meaning of all the coefficients.
b. Interpret the coefficient of determination.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
1 Data Collection StepbyStep Guide Use websites like Domain Realestatecomau or Rentcomau to find rental properties in a specific state eg NSW Filter the properties to show at least 50 observations ens...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started