you are provided two problem settings below along with the data that was collected to analyze each of the problem settings

you are provided two problem settings below along with the data that was collected to analyze each of the problem settings

For each of the settings and accompanying data sets, evaluate the data that was collected relative to the problem setting. Evaluate whether the data collected was appropriate and representative of the information that is required to analyze the problem presented in the problem setting.

Setting 1:

You are going to sell your house. You are determining what the price should be. To help you, you have collected information of houses that have sold in your neighborhood during the past eighteen months. You checked houses within a four mile radius and here is the information you collected. You are going to base your determination of the price of your house based on the following information. Evaluate and discuss whether the data collected was appropriate and representative of the information that is needed to analyze the problem presented in the problem setting.

House House Age Square Feet Selling Price
1 33 1812 $190,000
2 32 1915 $205,200
3 32 1840 $194,000
4 32 1832 $192,000
5 33 1851 $202,000
6 34 2032 $208,600
7 31 1755 $188,200
8 30 1805 $205,000
9 28 1900 $215,000
10 29 1485 $192,000
11 31 1525 $195,000
12 32 1515 $192,200
13 33 1685 $201,300
14 34 1600 $205,400
15 35 1650 $218,000

Setting 2:

You are going to set your budget for your utility (gas/water/sewer and electricity) expenses for the next year. You have recorded your utility expenses for the past year. That information is provided below. Evaluate and discuss whether the data collected was appropriate and representative of the information that is required to analyze the problem presented in the problem setting.

Utilities Utilities
Period Gas, Water, Sewer Electricity
Mar, 2011 125.47 65.68
Apr, 2011 70.89 61.5
May, 2011 72.58 59.93
Jun, 2011 80.91 72.17
Jul, 2011 66.08 101.35
Aug, 2011 84.58 118.04
Sep, 2011 80.39 80.07
Oct, 2011 88.12 60.76
Nov, 2011 86.5 58.7
Dec, 2011 130.06 70.22
Jan, 2012 131.34 65.5
Feb, 2012 121.2 67.71
Mar, 2012 98.96 67.99

 
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