Preview

SPSS Report

Powerful Essays
Open Document
Open Document
2522 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
SPSS Report
QMS 202 – SPSS Term Project Winter 2012

Submitted: March 29th 2012

Dr. Changping Wang

QMS 202 – SPSS Project

Part A – Mean Prices between Residential Properties in Toronto, San Francisco and Montreal

Introduction

The data for the first test to be conducted by our group consists of the prices of residential properties in various locations. The locations are Toronto, San Francisco and Montreal. The values of the samples are all represented in Canadian Dollars. The data taken are based on the residential property prices on January 8th 2012. Our group will execute a test to determine if there is a significant difference in the mean residential property prices for Toronto, San Francisco and Montreal. Furthermore, if the tests conclude that there is a difference in mean prices, our group will indicate where the prices are higher or lower.

Hypothesis Testing

For this data set, our group has chosen to conduct a one way Analysis of Variance F test (one-way ANOVA F-test). A one-way ANOVA F-test is appropriate in this example since it is a hypothesis technique that is used to compare means from three or more populations. Since the data set reflects the mean prices of residential properties in Toronto, San Francisco and Montreal, a one way ANOVA F-test is sufficient.

By having at least three samples in the data, our group has eliminated the idea of testing the claim by using different tests, such as a “two sample T-test”, a “paired sample T-test” or a “two sample Z test.”

In order for a one way Analysis of Variance F test to be conducted, the following conditions must be met:

(1) Each sample must be selected from a normal, or approximately normal, population.
(2) The samples must be independent and randomly selected.
(3) Each population must have the same variance.

Looking at the conditions stated above, all the samples provided by the Toronto Real Estate Board reflect data from that are randomly selected, which are independent of each other. That is,

You May Also Find These Documents Helpful

  • Satisfactory Essays

    RossRAssgnWK9spss

    • 922 Words
    • 9 Pages

    n analysis of variance (ANOVA) is a test which is used to compare the means of two or more independent samples and test to see if the differences between the means are statistically significant. The One-way ANOVA is an extension of the t test for independent samples. The t test for independent samples compares the mean of two groups,fortuantly the One-way ANOVA has the capacity to campare the means of two or more means. ANOVA can compare all means simultaneously. If one was to consider using a t test to compare all means a series of comparsions would need to be conducted with only two means at a time.…

    • 922 Words
    • 9 Pages
    Satisfactory Essays
  • Best Essays

    During last week’s research, three testable outcomes were identified: the value will increase if the home is closer to the city, the value will decrease if the home is closer to the city, or there is no direct correlation. Team B hypothesizes that if a property is closer to the city, the value will be higher. It has been determined that the median, mean, minimum, and maximum values should be assessed and examined to determine if this hypothesis is accurate. Team B will be using the mean home prices in group one and two to determine if there is a significant difference in home prices for homes less than 15 miles from the city compared to those equal to or greater than 15 miles from the center of the city. Based on the possible testable outcomes, Team B will use the Null Hypothesis and Alternate hypothesis with the mean prices in group one denoted as µH1 and mean home prices in group two denoted as µH2.…

    • 2176 Words
    • 9 Pages
    Best Essays
  • Good Essays

    Data Analysis: A t-test and or ANOVA test will be used to analyze the data.…

    • 386 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Res 342 Week 4 Essay

    • 431 Words
    • 2 Pages

    Tedko Associates is a marketing research firm that specializes in comparative shopping. Tedko is hired by General Motors to compare the selling prices of Pontiac Sunbird with Chevy Cavalier. Posing as a potential customer, a representative of Tedko visited 8 Pontiac dealerships and 6 Chevrolet dealerships and obtained quotes on comparable cars. The standard deviation for the selling prices of 8 Pontiac Sunbirds is $350 and on six Cavaliers, $290. At the 0.01 significance level do Pontiac Sunbirds exhibit greater variance in quotes than Cavaliers?…

    • 431 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Cih Level 3 Assignment 4

    • 3986 Words
    • 16 Pages

    * Market Volatility. Prices are dominated by a limited part of the market - those who are buying and selling property…

    • 3986 Words
    • 16 Pages
    Powerful Essays
  • Good Essays

    QNT 351

    • 652 Words
    • 3 Pages

    Through out the duration of this week there were several topics that members of this team found both struggling and straightforward. The discussions of topics lead team members to help one another understand the differences between the t-test and z-test. Additional topics in the discussions were how hypothesis testing is crucial to determining if the hypothesis is valid or false. One way to know if the hypothesis is valid is to determine the null hypothesis, which the opposite of the original theory, and tests against the alternative hypothesis, which correlates with the original hypothesis. To establish if the null hypothesis is valid statistical tests can help compare the means from two groups, and the results will verify if the theory is correct. These statistical tests, including the t-test and z-test are useful for determining the probability of truth to any hypothesis.…

    • 652 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The housing market changes quite frequently and depending on the city, state, and neighborhood. When a home-buyer is interested in purchasing a home they look for what fits their needs, life style, and budget. This is important because it will also determine what type of house they can afford to live in and how much they can get for the amount their budget will allow. Buyers and sellers will look for certain variables when purchasing or selling a home and data must be gathered to make sure that all details match and that all requirements are met. It would be safe to assume that our theory that the larger the house and the more rooms a house has, the more expensive the price of the house will be. The three major variables in our data summary are: number of bedrooms, size of the house, and number of baths.…

    • 416 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Pex Exercise 2 Activity 6

    • 400 Words
    • 2 Pages

    b. Identify the outlier. If it is removed, does your conclusion change for the 5% significant level test in a. (carry out the final test again assuming no change in your conclusion about your test on variances in part a.) (5 marks)…

    • 400 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    (Pittis, 2015) In fact, due to Baby Boomers are looking for getting the maximum value from their single-family homes, a future increase in this specific market will make prices to reach a maximum value at certain point, resulting in a period of decline. (Ireland, 2015) For instance, Edmonton will present a reduce in housing prices due to both the large supply of homes in the market and economic issues related to the decline of Alberta’s oil extraction. As Pittis (2015) states, the combination of both factors will cause a reduction in the housing demand since there will be fewer buyers compared to the number of Boomers competing to sell their homes. In Ontario, there will be similar consequences, however, they will vary depending on where and what type of house is in the market. (Pittis, 2015) For instance, inner Toronto may not be hardly affected because its convenient place allows a limited number of single-family homes with a high demand from buyers. In contrast, sixty-four percent of inhabitants in the Great Toronto Area demonstrate being worried about a possible downturn in the real estate prices. (Ireland, 2015). In London, for instance, the vast space for construction will not provide the city with an scarcity value, reducing even more the housing prices in the area. (Pittis,…

    • 1686 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    Analysis of Variance

    • 1068 Words
    • 5 Pages

    When ¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬more than two population means are compared, one uses the analysis of variance technique.…

    • 1068 Words
    • 5 Pages
    Satisfactory Essays
  • Good Essays

    Condo Sales Case

    • 870 Words
    • 4 Pages

    This case involves an investigation of the factors that affect the sale price of Oceanside condominium units. It represents an extension of an analysis of the same data by Herman Kelting (1979). Although condo sale prices have increased dramatically over the past 20 years, the relationship between these factors and sale price remain about the same. Consequently, the data provide valuable insight into today’s condominium sales market.…

    • 870 Words
    • 4 Pages
    Good Essays
  • Good Essays

    3. Explain whether an independent sample or related sample t test is appropriate and why…

    • 639 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    science

    • 2051 Words
    • 9 Pages

    1 slides: Explain at least 2 reasons why housing prices vary from city to city…

    • 2051 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Housing Bubble In Canada

    • 797 Words
    • 4 Pages

    Housing price is a sensitive issue for everyone. Generally, the more expensive houses are, the more difficult it is for people to live. In fact, Toronto is one of the cities which has the most expensive housing price in the world. According to Royal Lepage’s website, an average Toronto house price was 624,923$ in 2015, the second highest price among all Canadian cities. Moreover, an article by Sherman (2016) states that Toronto’s house price was increased by 8 percent in 2015; this figure was ranked 12th in the world. As we can see, People who live in Toronto have been suffering from this problem. It is clear that an effective solution that stabilizes Toronto’s high housing price should be suggested by the Mayor of Toronto.…

    • 797 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Statistical analysis was performed using SPSS version 16. Groups were compared by student t-test. The statistical significance was set at p<0.05 using a two-tailed…

    • 1259 Words
    • 6 Pages
    Better Essays