Business Report

Case Study: Apartment Rents

In order to determine whether there is any relationship between weekly rent, in which floor the apartment is in and distance from the nearest beach, a real estate company has collected data on weekly rent of one bedroom apartments in Sydney.

In the data set is organised as follows:
Column 1; the weekly rent ($).

Column 2; the floor of the apartment with 1 for ground floor,2 for first floor, 3 for second floor and 4 for third floor.

Column 3; distance to the nearest beach (1 for up to 2km, 2 for 2 to 5 km, 3 for 5
to 10 km and 4 for 10 to 15 km).Click Here To Get More On This Paper!!!!

Tasks:

1. A real estate company believes that the weekly rent of apartments depend on the floor the apartment is on and the distance to the nearest beach.

a.) Using the data collected test whether there are significant differences of the weekly rent of apartments on different floors.
b.) Test whether there is significant difference in weekly rents of apartments at different distances from the nearest beach.

2. The same real estate company also believes that:

(i) The average weekly rent of apartments on floor 3 is lower than the average weekly rent of apartments on floor 4, and

(ii) There is a significant difference between the average weekly rents of apartments at distances 5 to 10 km and 10 to 15 km from the nearest beach.

Use the data set to determine whether these beliefs are justified at 1% level
of significance.

3. Write a report incorporating your findings.

You are required to demonstrate the following knowledge and skills in this assessment
• Demonstrate the use of statistical techniques in Business data;
• Demonstrate how to conduct hypothesis tests about mean and difference of means;
• Demonstrate the use of computer software to get necessary statistical output.
• Demonstrate the skills of preparation of a managerial report

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