BSB131 - Applied Business Analytics Assessment 2

Data

The original dataset encompasses information from 322 suburbs in Perth, with around 100 rows of data for each suburb. In total, it contains 33,656 rows and 19 variables, resulting in approximately 640,000 observations. This data has been reduced to having 4 suburbs Most of the variable names are self-explanatory; however, it is worth noting that:

• The Longitude and Latitude data were obtained from data.gov.au.
• School ranking data was obtained from bettereducation.
• The nearest schools to each address selected in this dataset are schools that are defined to be 'ATAR-applicable'.
• In the Australian secondary school education system, ATAR is a scoring system used to assess a student's cumulative academic results and is used for entry into Australian universities.
• As such, schools that do not have an ATAR program, such as primary schools, vocational schools, special needs schools, etc. are not considered in determining the nearest school.
• Do also note that under the "NEAREST_SCH_RANK" column, there are some missing
• rows as some schools are unranked according to this criteria by bettereducation. 

Descriptive Statistics Investigation

Number of Bedrooms and Bathrooms:

• How does the number of bedrooms and bathrooms correlate with the overall house price?
• Is there a noticeable trend in house prices as the number of bedrooms or bathrooms increases?
• How does the ratio of bedrooms to bathrooms vary across different property types?

Land Size:

• What is the average land size of properties in the area, and how does it relate to house prices?
• Is there a pattern between larger land sizes and higher property values?
• How does land size influence the price per square metre of the property?

House Size:

• What is the typical house size in relation to its price?
• How does the size of the house impact the overall value of the property?
• Is there a diminishing return on price as house size increases?

Distance to CBD:

• How does the distance from the CBD affect the price of properties?
• Is there a significant price difference between properties closer to and further from the CBD?
• What is the relationship between distance to the CBD and land size/house size?

Hypothesis Tests

• Number of Bedrooms and Bathrooms: Do the number of bedrooms and bathrooms significantly affect the overall price of a property?
• Land Size: Is there a significant relationship between the size of the land and the property price?
• House Size: How does the size of the house impact its price? Is there a noticeable trend?
• Distance to CBD: Does the distance from the CBD significantly influence the price of a property? Are properties closer to the CBD generally more expensive?