BSTA001 – Business Statistics!
Semester 2, 2014
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BSTA001 – BUSINESS STATISTICS! GROUP ASSIGNMENT!
This assignment is designed to assist you to achieve the following learning outcomes:!
! a. develop a capability to apply standard statistical tools in various business decision contexts within a professionally responsible framework!
! b. locate, select and analyse relevant data, quantitative analytical techniques and resources to support business decision-making!
! c. effectively interpret and communicate results of quantitative analyses for business decision- making!
! d. effectively use a computer-based data analysis package to critically analyse data!
! e. communicate business information in writing through informal reports and team work! !
➡ Assignment value: 20%!
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➡ Group of 3-5 students (NO EXCEPTIONS)!
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➡ Submission:!
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Submission
Due date
What to submit
How to submit
Soft copy
End of week 11!
Sunday, 17 August 2014
Your report
In YOUR tutorial folder Turnitin on UTSOnline
Hardcopy
First 10 minutes of tutorials in the following week (week 12)
Stapled in this order:!
• Cover page!
• Originality report from Turnitin!
!• Your report!
(Cover page can be found on UTSOnline)
In person to your tutor in your scheduled tutorial
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Group Assignment!
Page 1 of 4
BSTA001 – Business Statistics! Semester 2, 2014
Your team has been accepted as interns in a real estate company based in the heart of Sydney CBD. Your first job is to conduct an analysis of the current state of the Sydney rental market in various suburbs, particularly those with a significant number of international students like Sydney CBD, Stratfield, Parramatta, Epping, Bankstown, Chatswood, etc.!
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TASK 1: LOCATE AND SELECT DATA – INDIVIDUAL!
For a suburb of your choice, each member of your group is required to collect data of:!
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1. 10two-bedroomunits/apartmentsforrentfromarealestatewebsite(realestate.com.au).Each
member must choose a different suburb.!
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2. Your are to record the following information about a unit for rent:! (a) Number of bedrooms!
(b) Number of bathrooms!
(c) Dishwasher (Yes/No)!
(d) Walking distance to nearest train station (in minutes)!
(e) Minimum total travel time to Sydney Opera House (in minutes – according to weekday
normal timetables)! (f) Rent per week ($)!
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Q1. List the data collected, presented in a table (template as below). For each observation, list the
source where you have obtained the data.!
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Table 1: Units for rent on realestate.com.au!
Unit
# of bedrooms
# of bathrooms
Dishwasher
Walking distance to nearest station (in minutes)
Total travel time to Sydney Opera House
Rent per week
1
2
3
…
9
10
Group Assignment! Page 2 of 4
BSTA001 – Business Statistics!
Semester 2, 2014
Source of listing in table 1!
Suburb: (Suburb name) NSW (Postcode)! !
Unit
Source URL
1
2
…
10

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Q2. Provide screenshots (containing information mentioned above) as well as the reference link of
one of the 10 properties used above.!
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Q3. From your sample, compute the appropriate descriptive statistics for the rent per week.! !
TASK 2: DATA DESCRIPTION AND ANALYSIS – GROUP!
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Q4. Based on the descriptive statistics from individual data in Q3, briefly compare the rents in different suburbs in terms of both central tendency and variability.!
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Combine data from all group members in an Excel spreadsheet and use this collated sample to answer the following questions.!
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Q5. A recent industry report indicates that units with premium weekly rent (more than $500 per week) are more likely to include dishwasher in the property than lower-priced units. Analyse your collated sample and examine whether it is indeed the case for Sydney. Show the steps in your analysis (including justification for choice of techniques used and all calculations) and report your findings clearly.!
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Q6. It is a common perception that tenants are willing to pay more for properties with easy access to major means of transport like train stations. Explore the relationship between walking distances to train stations and rent per week for two-bedroom units/apartments. Use an appropriate graph (including justification of choice of graph) and report your findings (no detailed calculations required).!
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Group Assignment! Page 3 of 4

BSTA001 – Business Statistics! Semester 2, 2014
Q7. Examine your group’s collated data and perform the following: !
! a) detect if there is any outlier in your dataset. Remove outliers (if any). !
! b) construct a 95% confidence interval for the population mean rent per week in the newly refined dataset. !
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Q8. Another team based on Melbourne recently conducted a similar analysis for the market in Melbourne and are kind enough to share the data with you. Latest data from the team indicates that after removing the extreme properties in the data, the average rent for 2-bedroom units in Melbourne is from $340 to $380 per week with a confidence level of 98%.!
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How does the confidence interval compare for the two markets (Sydney and Melbourne)? What inference can you draw from this comparison?!
I already finished haft way, question 6 7 8 haven’t finished yet, but many question are there always relatives….so I will provide info of question 12345 for you…you must to based on my info……https://online.uts.edu.au/bbcswebdav/pid-826634-dt-content-rid-5098044_1/courses/inbsta001/Week%207%20Lecture%20Handout%20New.pdf. here is formula of confident interval in question7, you must to follow this.
in question6, i finished haft way about graph so you must to follow the graph to finish report.
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