Task 1 ( 10 marks)
(a) Make a hard copy of your Random Number Table containing the following:
(i) The highlight of the starting row and starting column of the sample selection process. (Refer to the Assignment Part I Model Answer). (1 mark)
(ii) The strikethrough/mark on the three digits good numbers and the crossout of the repeated number(s). (Refer to the Assignment Part I Model Answer). (4 marks)
(b) Print a hard copy (see note below) of your sample property data (9 columns x 51 rows of data plus the column headings row) from the Excel file (SamplePropertyData) obtained per the above instructions. (5 marks)
Task 2 (10 marks)
Use Excel to produce a Frequency Column Chart (4 marks) and a Relative Frequency PieChart (3 marks) for your sample to show the number and proportion, respectively, of each building type.
Use these graphical summaries to answer the following questions:
(a) How many properties in your sample consist of brick buildings? (1 mark)
(b) Which building type occurs most frequently in your sample? (1 mark)
(c) What proportion of properties in your sample consists of weatherboard buildings? (1
mark)
Task 3 (10 marks)
, and the three associated rules (Slide 11 of Week 2 Seminar, Session 1) (1 mark) to determine:

(i) The 70^{th} percentile. (1 mark)
(ii) The first and third quartiles. (2 mark)
Task 4 (10 marks)
(a) Use Excel to produce a Descriptive Statistics table for your sample “Sold Price” data and paste into your MS Word assignment document. (4 marks)
(b) Use results from Task 3 to determine manually for this data, the upper and lower inner fence limits;

IFUL = Q_{3} + 1.5 x IQR (1.5 marks)
and IFLL = Q1 – 1.5 x IQR (1.5 marks)
(c) Based on the limits calculated in (b), choose from the numerical summary measures provided in the Descriptive Statistics table, and/or measures calculated previously in Task 3;
(i) an appropriate measure of central tendency, and, (1 mark)
(ii) an appropriate measure of dispersion for your sample “Sold Price” data. (1
mark)
Provide a brief explanation of the reasoning behind your choice in both cases. (1
mark)
Task 5 (10 marks)
Remember to show all working! Failure to do so will result in the loss of marks.
Task 6 (10 marks)
Remember to show all working! Failure to do so will result in the loss of marks.
(i) A point estimate of the mean “Sold Price” of the population of properties. (1 mark)
(ii) A 90% confidence interval estimate of the mean “Sold Price” of the population of properties. (2 marks)
(iii) Make a brief verbal statement explaining the meaning of the confidence interval estimate obtained in (ii) in the context of the variable in this task. (3 marks)
(b) If the population mean “Sold Price” is actually 650 ($000s), would you consider the interval estimate obtained in (a), to be satisfactory? Explain why or why not. (2 marks)
Task 7 (10 marks)
Remember to show all working! Failure to do so will result in the loss of marks.
(a) Use Excel to produce a Descriptive Statistics table for the brick veneer properties in your sample suitable for constructing an interval estimate of the population proportion of brick veneer properties. Hence determine: (2 marks)
(i) A point estimate of the proportion of brick veneer properties in the population. (1 mark)
(ii) A 99% confidence interval estimate of the proportion of brick veneer properties in the population. (1 mark)
(b) Using the following formula:
(sample statistic) ± (critical z or t) ´ (standard error of the sample statistic)
Use the rule of thumb for good normal approximation (Slide 3 of Week 7 Session 2) for proportion, then the Empirical Rule (Slide 8 of Week 5 Session 1) for a Normal distribution to determine a 95% confidence interval estimate of the proportion of brick veneer properties in the population. (4 marks)
(c) Compare, in terms of the precision, the interval manually calculated in (b) with the interval obtained from the Descriptive Statistics table in (a). Explain why the direction of the change in precision is expected. (2 marks)
SAMPLE SOLUTION
Task 2
Figure 1: Frequency column for building type
Figure 2: Pie chart for building type.
Answers to the questions with reference to the visual aid presented for clarity (FrankfortNachmias, & LeonGuerrero, 2015).
In the sample brick building consists of 17 properties
The most frequently occurring building type in my sample was Brick Veneer at 23 properties representing 46%
14% of the properties in the sample consist of weatherboard buildings
Task 3
Table 1: Sorted Sold price
125  375  435  552  1175 
230  385  445  555  1215 
270  387.5  453  610  1225 
300  400  460  665  1606 
319  400  461.25  670  1885 
340  415  475  740  
346  420.5  481.5  741  
350  425  510  785.5  
354  425  525  882.5  
374  427  544.5  1126 
Replace the values in the formula n=45, P=70
70^{th} quartile =(45+1)*70/100=32.2
Rounding off to the nearest whole number we get 32 as the position of the 70^{th} percentile which is $555000
First Quartile = 25^{th} Percentile, Third quartile =75^{th} Percentile
Replacing the values we get the following
First Quartile =(45+1)*25/100=46*0.25=11.5
Rounding off to the nearest whole number we get 12 as the position of the 25^{th} percentile which is $385,000
Third quartile =(45+1)*75/100=46*0.75=34.5
Rounding off to the nearest whole number we get 35 as the position of the 75^{th} percentile which is $670000
This show that 70% of the “Sold price” for the sample are below $555,000
Interquartile range=Quartile 3Quartile 1
=$670000$385000=$285000
This shows that the sold price spread between the 25^{th} percentile and 75^{th} percentile is $285000
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