# QUANTITATIVE METHODS – UNIT 1 – STATISTICS ASSIGNMENT BRIEF

August 30, 2017

Question

QUANTITATIVE METHODS – UNIT 1 – STATISTICS ASSIGNMENT BRIEF

Unit

QUANTITATIVE METHODS Unit 1

Assignment Title

Quantitative Methods Unit 1 – Statistics Project

Submission Date

Week commencing Monday 6th January 2014

Word Count

n/a

Assignment Requirements

Compare property prices in two areas of your choice

Collect your own data (min 50 prices from each area). You should quote your data collection source and data collection methodology in your final report.
State a hypothesis ( e.g. “My hypothesis is that property is more expensive in than in .”).
Analyse your data by performing statistical calculations and using diagrams and charts.
You may use computer software if you wish.

Written comments are in relation to interpreting the data, calculations and diagrams. These should be on-going throughout the assignment to describe to the reader the meaning of the various calculations and diagrams.

This is VERY IMPORTANT!

Comments on appropriate use of measurements

Compare:

v Measures of average – mean, median, mode. Which of these give a useful measure of average for your data? Why?

v Measures of spread – range, inter – quartile range, standard deviation. Which of these are useful measures of the spread for your data? Why?

Discussion and observations

Comment on:

v Types of property in each area. Are types similar for each area?

v Prices. Are there any particularly high or low values?

v Compare average house prices (mean, median and mode) for each area. What do the averages suggest to you?

v Compare spreads (range, interquartile range, standard deviation) of house prices in each area. What do these measurements suggest to you?

v You could include a table e.g.

Watland

Trecklington

Mean

£50 000

£67 500

Median

£45 000

£66 240

Mode

£35 000

£51 000

Comment whether hypothesis supported/not

State clearly e.g.

‘The hypothesis is supported’or ‘The hypothesis is not supported’

How supported/not and Conclusion drawn

v State how your hypothesis is supported, giving evidence and examples.

v Make sure that you state your conclusion

Comment on any possible improvements. e.g.

v Taking a larger sample from each area

v Collecting data from a wider range of sources e.g. estate agents, newspapers, property magazines, internet

v Collecting data over a longer period of time

v Comparing more similar types of property from each area

ritten comments are in relation to interpreting the data, calculations and diagrams. These should be on-going throughout the assignment to describe to the reader the meaning of the various calculations and diagrams.

This is VERY IMPORTANT!

Comments on appropriate use of measurements

Compare:

v Measures of average – mean, median, mode. Which of these give a useful measure of average for your data? Why?

v Measures of spread – range, inter – quartile range, standard deviation. Which of these are useful measures of the spread for your data? Why?

Discussion and observations

Comment on:

v Types of property in each area. Are types similar for each area?

v Prices. Are there any particularly high or low values?

v Compare average house prices (mean, median and mode) for each area. What do the averages suggest to you?

v Compare spreads (range, interquartile range, standard deviation) of house prices in each area. What do these measurements suggest to you?

v You could include a table e.g.

Watland

Trecklington

Mean

£50 000

£67 500

Median

£45 000

£66 240

Mode

£35 000

£51 000

Comment whether hypothesis supported/not

State clearly e.g.

‘The hypothesis is supported’or ‘The hypothesis is not supported’

How supported/not and Conclusion drawn

v State how your hypothesis is supported, giving evidence and examples.

v Make sure that you state your conclusion

Comment on any possible improvements. e.g.

v Taking a larger sample from each area

v Collecting data from a wider range of sources e.g. estate agents, newspapers, property magazines, internet

v Collecting data over a longer period of time

v Comparing more similar types of property from each area

QUANTITATIVE METHODS

UNIT 1 STATISTICS PROJECT

CHECKLIST

Assessment Criteria

INTRODUCTION

Hypothesis

4.1

Method of data collection

4.1/5.2

Description of two study areas

5.2

5.1/5.2/7.1

PRESENTATION OF DATA

Tally chart

4.2/5.1/7.1/7.2

Frequency table

4.2/5.1/6.1/6.2/7.1/7.2

Bar chart

4.2/5.1/7.1/7.2

Pie chart (show sector angle calculations)

4.2/5.1/6.1/7.1/7.2

Histogram

4.2/5.1/7.1/7.2

Cumulative frequency graph

4.2/5.1/6.2/7.1/7.2

ANALYSIS OF DATA

Measures of Average

Est. Mean calculated from frequency table

4.3/6.1/7.2

Est Median or Modal/Median Class from frequency table

4.3/6.1/7.2

Est Median from cumulative frequency graph

4.3/6.2/7.2

Actual Mean, Median (and Modes) from raw data

4.3

Measures of Dispersion

Range from raw data

4.3/6.1/7.2

Est. Standard deviation calculated from frequency table

4.3/6.1/7.2

IQR estimated from cumulative frequency graph

4.3/6.1/7.2

INTERPRETATION OF DATA & CONCLUSION

Spread Sheet of Results (show results side by side)

6.2/7.2

Hypothesis supported/not supported

7.3

Improvements suggested

5.2

Conclusion drawn

7.2/7.3

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