For this assignment, you will need to download the Excel data set:Major assignment Melbourne house prices data (XLSX 840 KB)

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. The data set contains listing details of houses sold in Melbourne from January 2016 to March 2018. There are 17,691 sales in this data set and nine variables as follows:

1. Price in Australian dollars
2. Method of sale:
3. S - Property sold
4. SP - Property sold prior to auction
5. PI - Property passed in
6. Vendor bid
7. SA - Sold after auction
8. Type:
9. h = house, cottage, villa, semi-detached, terrace
10. u = unit, duplex
11. t = townhouse
12. Seller:Real estate agent
13. Date
14. Distance:Distance from CBD in kilometres
15. Bedrooms:Number of bedrooms
16. Bathrooms:Number of bathrooms
17. Land size:Land size in metres.

This data set will be used to help you generate responses to the following eight tasks.

Task 1: Random data sample

Select a random sample of size 90 customers from the 17,691 listings in the Melbourne house prices data. You will use this sample data to complete tasks 2 to 8.

Task 2: Descriptive statistics

Use data summary methods to describe the returns in your sample using nine variables (items 1-9 above).

Use an appropriate graphical and summary statistical technique, chosen according to the type of variable. Less appropriate/inappropriate techniques will receive fewer/no marks.

Choose your techniques from the following:

• tabular techniques: frequency tables and grouped frequency tables
• summary statistics: mode, median, mean, standard deviation, range, coefficient of variation and interquartile range
• graphical techniques: pie chart, bar graph, histogram, frequency polygon.

Note:Do not draw an ogive curve, stem plot or a box plot in this assignment, and do not draw 3D graphs.

Use the following guidelines to assist you:

1. For a nominal or an ordinal variable, draw a graph and present a frequency table in percentages.
2. For a ratio or an interval variable, draw a graph and a summary statistics table, including summary statistics appropriate to the type of distribution only.
3. Try to use variation in drawing graphs, e.g. pie chart/bar chart or histogram/polygon.
4. Do not draw two different graphs for the same variable. You can draw the same type of graph for two variables.
5. Do not include any information that you will not include in your discussion, such as kurtosis.
6. Display and describe one variable at a time.