Quantitative Methods for Business - Management Assignment Help

Assignment Task

QUESTION

Assume that you are interested in buying a house in Klang Valley and have randomly collected 75 residents and the data extracted is as attached. Below are the variables that are applicable in your study:

• Price (Price of the house in RM000)
• Bedrooms (Number of bedrooms in a house)
• Size (Size of the house in square feet)

Part I 

• Obtain the descriptive statistics for the number of bedrooms by the price of the house.
• Create frequency distributions and draw appropriate diagrams for the price of the houses and number of bedrooms, separately.

Part II 

By using correlation and regression analysis in Excel, display the output for number of bedrooms by the price of the house. Your analysis should include a scatter plot of the data (complete with best fit line and explanation of the graph). Develop the statistical model for this analysis. Assess the statistical significance of the model.

Part III 

Write a report about your investigation. Give brief introduction of your data (including the variables). Interpret your results from part I and II. All the graphs given above should be interpreted as well. Based on your investigation, do you think the assumed independent variable explain well your dependent variable? What are the other possible factors affecting your dependent variable? Discuss any limitations you have regarding using this technique for your investigation.

Part IV 

Explain what regression and correlation means and how it can be used in real life. Include examples that will support your explanation.

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