Statistics for the Social Sciences

Question: Describe about the Term of Statistics for the Social Sciences. Answer: Introduction It was observed that there are so many factors are responsible for the house price. One of the very important factors in the house price is nothing but the location of the house. There are different house prices for the different locations. The significant difference observed between the house prices according to the location of the house. The other possible factors for estimation of the house price would be house area or size, availability of the different facilities, number of bedrooms, etc. We want to concentrate the comparison between the house prices in the two locations in the New Jersey. We would find out the significant difference between the average prices of the houses in the two locations Montclair and Millburn. We want to estimate the house price on the basis of house location by using these two locations. By using some sample data we can check this fact. Data Collection The collection of the data for any research project or study is necessary to find out the conclusions. For the study of the significant difference between house prices in the two locations Montclair and Millburn, the random sample of 93 homes which sold in two locations Montclair and Millburn New Jersey. The random sample is taken from the data from INFO 501 class, Montclair State University. The data is collected for the price of the house in thousand dollars, assessed value in thousands of dollars, number of rooms in the house, taxes in thousands of dollars paid in the year before the sale, age of the house at the time of the sale, town (Montclair coded as 1 and Millburn coded as 0) and style of house. The styles of house are given as Bi-Level, Cape Cod, Colonial, Custom Home, Ranch, Split Level, Tudor and Victorian. Statistical Data Analysis The descriptive statistics for the prices of the houses in thousand dollars are summarized as below: Descriptive Statistics N Minimum Maximum Mean Std. Deviation PRICE(k) 93 289.00 2895.00 957.3011 501.22556 Valid N (listwise) 93 The average price of the house is the given as 957.3011 thousand dollars with the standard deviation of 501.2256 thousand dollars. The minimum price of the house is observed as 289 thousand dollars while the maximum price of the house is observed as 2895 thousand dollars. Now, we want to compare the prices of the houses in the two locations such as Millburn and Montclair in the New Jersey. The descriptive statistics for the prices of the houses in the two locations Millburn and Montclair are summarized in the following table: Group Statistics TOWN N Mean Std. Deviation Std. Error Mean PRICE(k) Millburn 45 1157.7111 551.20445 82.16871 Montclair 48 769.4167 364.44991 52.60381 From the above table, we can observe the comparison between the house prices between the two locations Millburn and Montclair. The average house price in the Millburn is given as 1157.71 thousand dollars while the average price for the houses in the Montclair is given as 769.42 thousand dollars. The standard deviation for the house prices in the Millburn is given as 551.20 thousand dollars while the standard deviation for the house prices in the Montclair is given as 364.45 thousand dollars. From the above comparison table it is clearly seen that the average price of the houses in the Millburn are more than the average prices of the house in the Montclair. This means houses in the Millburn are more expensive than the houses in the Montclair. The variation in the house prices in the Millburn is more than the variation in the house prices in the Montclair. There are different styles of houses in the two locations such as Bi-Level, Cape Cod, Colonial, Custom Home, Ranch, Split Level, Tu dor and Victorian. The distribution of the houses in the two locations Millburn and Montclair according to the style of the houses is summarized in the following table: Style Total Bi-Level Cape Cod Colonial Custom Home Ranch Split Level Tudor Victorian Millburn 0 1 27 3 7 2 4 1 45 Montclair 2 2 30 1 0 1 5 7 48 2 3 57 4 7 3 9 8 93 The distribution of the house prices suggests that most of the houses have the price less than 1000 thousand dollars. The histogram for the prices of the houses is given as below: This distribution for the prices of the house does not implies any specific shape and it is also found that there are some outliers found for the data for the prices of the house. Now, we have to see the comparison of the prices of the houses in the two locations such as Millburn and Montclair in the New Jersey. We have to see this comparison by using the box plots. Two box plots for the house prices in the Millburn and Montclair are given as below: From the above two box plots for the house prices in the Millburn and Montclair, it is observed that the average price of the houses in the Millburn is more than the average price of the houses in the Montclair. Also, some outliers are observed for the house prices in the two locations Millburn and Montclair. Conclusions The overall average price for the houses is given as 957.30 thousand dollars with the standard deviation of 501.23 thousand dollars. The minimum price of the house is observed as 289 thousand dollars and the maximum price of the house is observed as 2895 thousand dollars. The average house price in the Millburn is given as 1157.71 thousand dollars while the average price for the houses in the Montclair is given as 769.42 thousand dollars. The standard deviation for the house prices in the Millburn is given as 551.20 thousand dollars while the standard deviation for the house prices in the Montclair is given as 364.45 thousand dollars. References Hays, William, L., (1973). Statistics for the Social Sciences, Holt, Rinehart and Winston Leonard, J., Savage, (1972). The Foundations of Statistics, 2nd ed., New York: Dover Publications, Inc. Mann, Prem , S., (1995). Introductory Statistics. 2nd ed. New York: Wiley. Morris, H., DeGroot, Mark, J., Schervish, (2001). Probability and Statistics, 3rd ed., Addison Wesley. Moses, Lincoln, E., (1986). Think and Explain with Statistics, Addison-Wesley