Data Analysis Descriptine Statistics
The histogram explains although the economy is in a bad state that some home buyers are not willing to go under or above their original price range no matter what special features they are looking for. In our research we wanted to know what home buyers were looking for when purchasing a home or what were in some of the homes that were selling in the economy at today’s state. We believed that it’s important to understand and know what buyers are looking for and what’s important to them for the sake of the economy.
The histogram shows the median in home buyers where the frequency is high. This means that at the frequency of 11 home buyers are willing to spend 233550 on a home, although the chart does not show the exact things home buyers are looking for when purchasing a home it’s obvious at 233550, whatever comes with a home in such areas, this is what most individuals are looking for.
It can also be argued that at a lower frequency many home buyers are not willing to spend in the price ranges of 139900 and 186725 and it is safe to say that it doesn’t matter what features comes with these homes its obviously not the heightened picks for home buyers. Conclusion With all of our research and data analysis we did get an answer for our problem statement but at the same time we believe it is a problem statement that can always have more research.
We did get enough data so that we can have enough information to put our data together and investigate what buyers want and what they look for when they are looking for a home. This information helped us put together data to calculate the measures of central tendency, dispersion, and skew. We were able to see the statistics and see what the different scales and based on the skew values and histogram we can see what the buyers of homes look for whether it is the price, number of bedrooms, the size of the home, extras like pools, distance to work school etc, township, garages or bathrooms.
We wanted to get a clear picture of what was selling in today’s economy and whether certain things made a difference and we believe we achieved our goal. Although we did get enough research to answer our question, we also believe more info can be obtained since buyers change their mentality or they begin to see things in different ways as to what they want. Also we can probably dig deeper and analyze the situation a bit more by comparing neighborhoods, trends, cultures and other variables.
What one person thinks is important another one might not there for more research might be needed if we were to decide to make our research question not as broad. We gathered very productive information and that information helped us realize what things make a home desirable. All in all we believe we always need more research especially with this specific topic and in this changing economy and population in today’s society.
What might be important today for a buyer, might not be to important in a year or so.