Data Analysis of American House Price Essay Example

Data Analysis of American House Price Essay 1. Terms of Reference This report is the outcome of an analysis and investigation of American house price in order to consider which factor influence the price. It is submitted as my project for Essential Data Analysis module on the Business Studies Programme. 2. Executive Summary The data was investigated using the software Minitab ver. 14. This program is very useful for analyzing big data set faster and easier. Through Minitab were created a graph for each requested point. In order o make the graph more understandable, it is provided a table with the more relevant statistic information. This allows a more comprehensive and understandable reading of the report and an easier and more efficient comparison among 2 or more variables in order to make a proper analysis. Correlation and Regression analysis was applied in order to establish the relationship between the price with the size and the distance to the nearest large town. We will write a custom essay sample on Data Analysis of American House Price specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Data Analysis of American House Price specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Data Analysis of American House Price specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The data set given as a sample to analyse contain data collected of 100 houses in America from 5 different township numbered from 1 to 5. Each house is described by its price, size, number of bedrooms and bathrooms, if it has or nor a pool and a garage, the distance from the nearest large town, how desirable it is (scale of value among 1 = very undesirable to 7 = most desirable), the township of belonging and its age. The aim of this report is to assess and evaluate the distribution of house price in America in the 5 townships used as sample. A conclusion is provided to summarise all the findings, interpretations and explanations followed by suitable suggestions. This report should help an investor to have a more clear background of which factor take into consideration before buying a house. 3. Introduction House and properties are ones of the fixed assets that have shown to have an increasing trend of value. Every year house prices in America increase with the inflation and gain even more value. The same applies worldwide to most of the house values. As the value of houses tend to increase overtime, a lot of people have decided to invest in properties. However, there are more factors to take into consideration before buying a house in order to evaluate if it worth the money asked on the market and if it will keep and increase its value. 4. Statistical Analysis: Findings The Findings of the report has been dived into 3 parts: a. The overall distribution of the house prices in the survey; this take into account all the house price within the 5 township without distinguishing for any other factor such as bedrooms and bathrooms number or size. b. An examination of the proportion of the houses with a pool. This proportion was then investigated in relation to the garage and in the 5 townships. c. An investigation of possible factors affecting the price such as the presence of a pool, the relationship with its size, the possibility of a link with the desirability and the distance to the nearest large town. 4.1 Overall Distribution of the house price By lLooking at Graph 1 it appears that the overall distribution is symmetrical. This is confirmed by comparing the value of the mean with the median: as the two figures have approximately the same value, it implies that the distribution is roughly symmetrical. The mean is the sum of all values divided by the datea set, 100. The distribution of house price varies between a minimum value of $127,70 and a maximum of $284,00 with a range of $156,30. However, 25% of the houses have a price between the minimum value of $127,70 and the value of the first quartile $179,93. 25% of the houses have a value between the third quartile $221,15 and the maximum value $284,00. The graph clearly shows that there is a higher concentration of houses with a price between Q1 ($127,70) and Q3 ($221,15). These represent 50% of the overall distribution. The value of the standard deviation indicates how spread are the data is spread in respect to the mean. 4.2 Examination of house with a pool As shown in the Graph 2 above, 55% of the houses (that represent 55 out of 100 houses in the data set given) have a pool. In the Minitab output the percentage equal the count because it is out of a sample of 100. As a result, 45% of the houses analysed does not have a pool. The Graph 3 shows the proportion of the houses with a pool and a garage. By looking at the table it is clear that the majority of the houses with a pool have also a garage, with 58,18% (32 out of 55 houses with a pool); while 41,82% (23 out of 55) houses with a pool do not have a garage. However, for houses without a pool, the proportion of houses without a garage is higher than houses with a pool where 82,22% (37 out of 45 houses) do not have a pool nor a garage. It is evident from Graph 4 that the proportion of the houses with a pool is not the same in all the 5 townships. In township 5, all the houses (100%) have a pool; followed by township 4 with a 94,4% of the houses. On the other extreme there is township 1 with only 13,33% (2 out of 15 houses) have a pool, followed by township 2 with 22,22% (6 out of 27 houses). As table 4 shows the proportion of houses with a pool are in ascending order with the number of township: township 1 has the lowest percentage and township 5 has the highest. This could be a coincidence. However, on the overall distribution, township 4 has the highest percentage of houses with a pool, with 32,73% (18 out of 55 total houses with a pool). 4.3 Investigation of Factors affecting the house price The box plot clearly shows that the overall distribution of the price for the houses with a pool is higher than houses without a pool. By comparing the data from table 5 it is clear that all the values relative to the distribution (mean, median, min, 1st quartile, 3rd quartile and maximum) for houses with a pool are higher. This leads to state that the houses with a pool are generally more expensive that houses without. Moreover, by comparing the mean and the median value for both groups, it is possible to identify that the distribution for the houses without a pool is skewed to the left or negatively skewed. This indicates that there are a few extreme low values that pull down the value of the mean. However, the * indicates that there is also an extreme high value of $250,20. By comparing at in the same way the houses with a pool it emerges that the distribution is roughly symmetrical because the value of the mean and the median are very close. Another important consideration about the distribution is given by the quartiles that in the graph are represented by the lower and higher limits of the boxes. The 1st quartile of the houses with a pool ($195,90) is higher than the 3rd quartile of houses without a pool ($192,05). This implies that 75% of houses without a pool haves prices similar to the lowest 25% of houses with a pool. However, the standard deviation measures how spread the data set is. The houses with a pool have a higher standard deviation, which impliesy that they have a more variable set in which each value is more distant to each other and to the mean while they are slightly more concentrate for the houses without a pool. By comparing the values of the range and inter-quartile range in relation with the standard deviation, it is clear that the houses with a pool have a higher dispersion in price and the prices are more spread out than houses without a pool. The scatter plot in graph 6 gives an indication that there is a relationship between the house price and the size of the house. The upward trend indicates that there is a positive linear relationship as both variables are moving in the same direction: when the size rises, the price rises as well. In this case it worth to continue investigating the relationship. However, the point are scattered quite broadly, so it is necessary to analyse the value of r in order to determine how strong the relationship is. The correlation coefficient (0,65) indicates that there is a positive (given by the sign +) relationship, and not very strong given by the value being lower than 0,8. The regression equation is Price = -11,1 + 0,0979 * sqrFt However, the value of the intercept is not statistically meaningful. This is given by the value T being -0,44 and also because logically a house price cannot be negative. In spite of this, the model is still good because the value T of the gradient (or slop) is statistically significant as T = 8,46. Nevertheless, the slope is very low and it indicates in increment of $0,0979 for each extra sqrFt. The value of R-Sq suggests that only 42.2% of the house prices are explained by the size. This implies that there are other more significant factors that explain the changes in price. By eye it is also possible to estimate that the houses with a square feeootage between 1900sqrFt and 2300sqrFt are more frequent. However, it is important to consider that this graph takes in consideration the houses over the 5 townships with or without pool and with different numbers of bedrooms and bathrooms numbers. The scatter plot shows the relationship between the house price and the distance to the nearest large town. It actually clearly illustrates that there is not a relationship between the two variables. This is confirmed by the correlation coefficient equal to 0,042. Moreover, as it is explained by the R-sq value, only 0,2% of the house price is related to this relationship. It is not necessary to continue this investigation any further. 5. Conclusion The following is a summary based on the findings: 1. The overall price distribution is roughly symmetrical and there is a higher concentration (50%) of houses with a price between $127,70 (Q1) and $221,15 (Q3). (Graph 1 Table 1) 2. The proportion of houses with a pool is slightly higher than houses without a pool: 55% against 45%. (Graph 2 Table 2) 3. The majority of houses with a pool have also a garage but the highest proportion does not have neither of the two. (Graph 3 Table 2) 4. The percentage of houses with a pool increase with the township with number 1 having a minority of houses with a pool and 5 having 100% of houses with a pool. 3 out of 5 towns have a higher proportion of houses with a pool. (Graph 4 Table 4) 5. Houses with a pool are more expensive that houses without. 75% of houses without a pool have a lower price than the 25% lowest prices for houses with a pool. (Graph 5 -Table5) 6. There is a positive relationship between the price and the size of the house; although this relationship is not very strong. Per each extra square feet the price rise of $ 0,0979. There is a higher concentration of houses with square footage between 1900sqrft and 2300sqrft. (Graph 6 Table 6) 7. There is a link between the price and the desirability of a house. However, this relationship is not very strong. (Graph 7 Table 7) 8. The distance between the house and a large city does not affect the price. (Graph 8 Table 8) 6. Recommendations Based on the above conclusions of the analysis, the following are suggestions for an investor interested in buying a house in one of the 5 townships: 1. The most popular and thus more demanded price for a house is between $127,70 and $221,15. For a Luxury house the highest demand would be between $245 and $275. Over this amount the demand is very low which imply that it is very exclusive. It depends by the main aim of the investor. 2. There is a slightly higher demand for houses with a pool. 3. If the investor decides to buy a house with a pool, it is suggestible to have a garage as well. Otherwise it is more convenient to have a house without any of the two. 4. If the house is in township 3 to 5, it is highly recommend to have a pool, especially for the last one. 5. The pool will make a huge difference for the value of the house. The value will rise by about 75% if it has a pool. 6. The bigger the house is, the more it values. However, houses with less than 1900sqrft are not very demanded. There is a medium demand for houses with a bigger size. 7. Desirability scale 6 has a highest average and median price and it had a good demand. 8. It is not relevant the distance between the house and a big city. NOTES: All the figures used to refer to the price are expressed as thousands of dollars ($ ,000). In order to determinate the demand, it has been used the assumption that the higher frequency has a higher demand. For example: in township 5 all the houses have a pool. It implies that every

15 Groovy, Awesome, Swell and Cool Words

15 Groovy, Awesome, Swell and Cool Words 15 Groovy, Awesome, Swell and Cool Words 15 Groovy, Awesome, Swell and Cool Words By Michael Whats your favorite word of compliment or admiration? How do you express approval? These are important questions for each generation of young people, who want their vocabulary to distinguish them from previous generations. Its not fool-proof: a slang expression of approval is often fashionable in one place or time but not another, and may even coming back into fashion later. A word that is fashionable in one school might be considered outdated in another. Perhaps the longest reigning compliment is Cool! after an unusual run of popularity among several generations of young people, it remains fashionable in 2019. But in the last century, dozens of similar words have come in and out of fashion. ace Meant top quality, as in the highest playing card in a standard deck. A flying ace in World War I meant a pilot who had shot down five or more planes in combat. A student who gets an A on a test can say, I aced it! But once upon a time, it was used as a positive exclamation: Ace! meant Great! awesome typical of GenX youth (those born roughly between 1961 and 1981), but also used by American preteens in 2019. Example: This popcorn is awesome! One of several contemporary uses of a stronger word in a weaker sense, awesome originally means producing terror, then full of awe or awe: The volcano erupted in an awesome shower of fire. More recently, it has been used for anything thats moderately interesting (such as rocks, socks and clocks in the Lego Movie song Everything is Awesome.) Perhaps this usage expresses a hope for a life thats more than moderately interesting, or else, youthful enthusiasm. bad An example of contrarianism in youth slang (bad means good), but still with the original connotation of rough or evil. That is, a girl would not say, Oooh, thats a bad bouquet of flowers! Thank you! Ill put them in a vase right now. bully One of the favorite adjectives of U.S. President Teddy Roosevelt, meaning grand or excellent. Used in this sense in Great Britain by 1680 and revived in popularity America around 1844 (Bully for you!). Its meaning changed from the Middle Dutch boele, meaning lover or boyfriend, later probably used similarly to Ooh, your boele is really bad! I like him! to the current sense of someone who is cruel to those weaker than himself. But when Roosevelt was President (1901 to 1909), it was probably as popular as cool is today, and meant approximately the same thing. cool This word has also kept its Old English meaning of low temperature. Someone with a cool head is not hot-headed or easily angered he has control of his passions. But a dispassionate person might also lack compassion for others, an implication of cool in the 1957 musical West Side Story. In the 1940s, tenor saxophonist Lester Young popularized the word as an expression of calm approval and satisfaction. If you ask teens in the Teens if they need anything, maybe something to eat or drink, they may respond, No, Im cool or No, Im good. It has been spelled kewl, but thats now dated or ironic. crack Used in the phrase crack shot, an accurate marksman, but it means good or skilled in general. Samuel Johnsons dictionary definition involved quickness or smartness. epic Frequently used by young gamers but common among many young male Americans, meaning very cool and exciting, Originally used for important events or great objects worthy of long works of heroic poetry such as the Iliad, the Odyssey, the Aeneid, Beowulf, and Paradise Lost. Political campaigners like to refer to the epic accomplishments of their candidate, if any, the last time her or she was in office, if ever. groovy Popular in the 1960s among surfers and hippies. It even became the title of a Los Angeles television show in 1967, live from the beach in Santa Monica. But it originated in the Jazz Era of the 1920s, from the phrase in the groove, referring to the groove on vinyl records. If you were in the groove, you were part of the latest music scene. gucci From the high-quality clothing line, used by YouTuber Matt Smith to mean high quality or good. When a former enemy becomes your friend, you can say about your relationship, Its all gucci. In a 1999 magazine interview in Harpers Bazaar, singer Lenny Kravitz calls his bedroom very Gucci. hep According to the Merriam-Webster Dictionary, the word hep was first used in 1862 to mark the cadence of a march, like this: HEP 2 3 4 HEP 2 3 4 The words Left left left-right-left served the same purpose and also made it clear which foot you should put forward when. By 1900, it had already begun to mean trendy. decades before it was adopted by beatniks and hippies. hip Originally spelled hep, this word referred to the most current-conscious residents of the 1960s. Someone who was hip knew all the latest jargon, wore the latest fashions, and understood the latest ideas. To say Im hip with that meant I know what youre talking about and I agree. So a hippie at the time was someone who was very hip. Of course, being trendy is a moving target the word was first used in this sense in 1904, and trends have changed substantially since then. mod Beginning about 1958, the mod youth culture was typified by young sharp-dressing, scooter-riding working class Londoners, but spread around the world. So in the early 1960s, if something was mod, it was trendy. Long after mod stopped being a common compliment, an American TV series called The Mod Squad debuted in 1968 and ran until 1973. Its young undercover detective stars were more hip than mod, using solid and groovy as their compliments. The word was revived effectively later according to a middle-aged GenXer, That word was so 80s. sick Another example of contrarianism in youth slang. Being ill is disagreeable, but something that is sick is attractive. In other words, calling a skateboard sick is an expression of admiration. On Mark McCrindles list of the most annoying youth phrases in Australia, fully sick is number 2. swell By 1786, a swell was a dandy, a fashionable person with a swollen sense of self-importance. But it became an exclamation of admiration. In the musical The Music Man, set in 1912, Professor Harold Hill warns parents against sinister influences on their sons: Are certain words creeping into his conversation? Words like like swell! But it was too late: by 1930, expressions such as Thats just swell! had become common in the United States. wild The theme song of The Patty Duke Show (1963-1966) says about the two main characters (both played by Patty Duke) What a wild duet! Perhaps a 1960s reaction to the staid 1950s, where wild behavior was not acceptable. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Comparative Forms of Adjectives40 Synonyms for â€Å"Different†Types of Plots