BUS5PB - Principles of Business Analytics Assignment 02:Descriptive Analytics in Practice

Task 02.1 (10%)

Identify the key descriptive statistics of the property price found in 2
• Perform initial distribution analysis on ‘Price’ from the given data set using the histogram.
Make sure to choose reasonable bin size.
• Calculate the key descriptive statistics(mean, median, mode, range, IQR, quartile, skewness, variance, standard deviation) for the ‘Price’.
• Compare price distribution for ‘Eastern Metropolitan’ and ‘Western Metropolitan’. What can you find out? Perform outlier analysis on ‘Price’ for these two are a sand what are the price ranges for these outliers? (Hint: use box plots)
• Can you identify which suburbs have the highest and lowest house prices?