Gulf Real Estate Properties Gulf Real Estate Properties, Inc. is a real estate firm located in

southwest Florida. The company, which advertises itself as an “expert in

the real estate market,” monitors condominium sales by collecting data

on location, list price, sale price, and the number of days it takes to

sell each unit. Each condominium is classified as Gulf View if it is

located directly on the Gulf of Mexico, or No Gulf View if it is located

on the bay or a golf course (near but not on the Gulf). Sample data

from the Multiple Listing Service in Naples, Florida, provided sales

data for 40 Gulf View condominiums and 18 No Gulf View condominiums. The

complete data set is in the file named Real Estate, linked at the bottom of the page.Managerial Report Prepare a report (see below) that summarizes your assessment of the nature of the housing market in southwest Florida. Be sure to include the following seven (7) items in your report.Descriptive statistics (mean, median, range, and standard

deviation) to summarize each of the three variables for the 40 Gulf View

condominiums. Are there any outliers in the data set for any of the

three variables? If there are any outliers in any category, please list

them and state for which category they are an outlier. Describe which

method you used to make your determination.

Descriptive statistics (mean, median, range, and standard deviation)

to summarize each of the three variables for the 18 No Gulf View

condominiums. Are there any outliers in the data set for any of the

three variables? If there are any outliers in any category, please list

them and state for which category they are an outlier. Describe which

method you used to make your determination.

Compare your summary results from #1 and #2. Discuss any specific

statistical results that would help a real estate agent understand the

condominium market.

Develop a 95\% confidence interval estimate of the population mean

sales price and population mean number of days to sell for Gulf View

condominiums. Interpret your results.

Develop a 95\% confidence interval estimate of the population mean

sales price and population mean number of days to sell for No Gulf View

condominiums. Interpret your results.

Assume the branch manager requested estimates of the mean selling

price of Gulf View condominiums with a margin of error of $40,000 and

the mean selling price of No Gulf View condominiums with a margin of

error of $15,000. Using 95\% confidence, how large should the sample

sizes be for each?

Gulf Real Estate Properties just signed contracts for two new

listings: a Gulf View condominium with a list price of $589,000 and a No

Gulf View condominium with a list price of $285,000. What is your

estimate of the final selling price (based on the percent difference for

the sale and list price) and number of days required to sell each of

these units?

Write a report that adheres to the Written Assignment

Requirements under the heading “Expectations for CSU-Global Written

Assignments” found in the CSU-Global Guide to Writing and APA Requirements.

As with all written assignments at CSU-Global, you should have in-text

citations and a reference page. An example paper is provided in the MTH410 Guide to Writing with Statistics, linked at the bottom of the page.Your report must contain the following:A title page in APA style.

An introduction that summarizes the problem.

The body of the paper should answer the questions posed in the

problem by communicating the results of your analysis. Include results

of calculations, as well as charts and graphs, where appropriate.

A conclusion paragraph that addresses your findings and what you have determined from the data and your analysis.

Submit your Excel file in addition to your report.Gulf View Condominiums

List Price Sale Price Days to Sell

556

523.2

99

943

893

106

536

506.5

48

316

299.9

56

726

709.3

223

678

666.5

215

806

745.6

222

155

145.1

110

825

810.2

294

605

589.9

193

400

382.4

59

718

692.9

152

427

406.1

139

328

304.7

244

374

350.1

70

393

389.5

278

277

261.8

62

728

725.8

224

336

332.3

287

351

343.3

205

681

644.2

279

336

327.6

71

929

878.8

300

784

741.7

235

721

707.3

258

908

844.4

148

974

958.4

268

774

750

109

600

582.6

262

263

251.2

194

885

855.8

69

257

250.6

165

968

939

249

285

277.9

243

443

439.9

195

752

711.4

249

912

903.8

228

534

524.9

272

712

672.1

150

833

814.7

166

No Gulf View Condominiums

List Price Sale Price Days to Sell

203

192.4

289

131

121.7

300

184

184

174

260

256.9

397

255

254.7

261

136

128.9

228

225

215.8

172

264

245.8

368

166

161.9

205

244

226.7

170

252

239.4

385

136

126.2

315

203

196.1

224

197

197

100

262

248.4

58

137

128.1

185

135

129.1

276

299

282.6

167

Running head: GUIDE TO WRITING WITH STATISTICS

MTH410 Guide to Writing with Statistics

CSU-Global Campus

October, 2014

1

GUIDE TO WRITING WITH STATISTICS

2

Introduction

The purpose of this paper is to provide some general guidance in the writing of papers

using statistics and associated tests. The paper provides some general tips for writing and the use

of statistics. An example prompt is included, followed by a sample paper.

General Tips for Writing a Math Paper:

•

•

•

•

•

•

•

•

Organization:

o Turn your prompt into headings for paper sections. This will help you to make

sure you include all of the required information and analysis. It also helps the

reader identify the material.

o Your paper needs:

▪ A separate title page using APA style requirements (running header, page

numbers, course, instructor, your name, date, etc.).

▪ An introduction (often a summary or abstract of the problem).

▪ A body of the paper that answers the questions posed in the problem and

includes calculations and graphs associated with this problem. This is

where you can turn your prompt into headings. All references need to be

properly cited.

▪ A conclusion paragraph that addresses your findings and what you have

determined from the data and your analysis.

▪ A separate sheet for references.

o There are templates that use APA style that you can insert your material into. If

you really struggle with formatting, this may be an option for your first paper or

two. If you use a template, remember to double-check it to remove any extra

instructions or pages or other elements that weren’t used.

In general, numbers less than 10 are to be written in word form. However, if you have

numbers in this range that carry decimals, write them in numeral form.

Never use or interpret a statistic or test that you don’t fully understand.

Target your audience and present as much information as necessary to allow the reader to

make an independent interpretation.

Make use of graphs and tables to display information in an easily understood manner.

Format them the same throughout, and make sure you don’t manipulate axes.

If you are referring to a statistic that is less commonly used, explain how you calculated

it. (It is not necessary to explain mean, but it may be necessary to explain how you set up

an ANOVA test.)

Be clear about your sample and its corresponding population.

Be direct in writing descriptive statistics (The mean in Group A is 22.9 units.).

GUIDE TO WRITING WITH STATISTICS

•

•

2

Translate the meaning of the statistic for the reader. Write plainly and then back it up

with statistical evidence. For example: Men and women scored equally well on this study

(t = 0.25, p < 0.01).
For additional resources see the CSU-Global Guide to Writing and APA Requirements or
visit https://owl.english.purdue.edu/owl/owlprint/672/
GUIDE TO WRITING WITH STATISTICS
3
Prompt for Sample Paper:
Critical Thinking: Heavenly Chocolates
Website transactions are an important segment of sales and distribution today. Heavenly
Chocolates manufactures and sells quality chocolates at its plant and retail store in Bozeman,
MT. Three years ago, the company developed a website and began sales on the internet. Website
sales have exceeded expectations and management is now considering strategies to continue to
increase its sales. To learn more about its sales, Heavenly Chocolates selected a sample of 50
random transactions from its previous month’s sales. The transaction data shows the day of the
week the purchase was made, the type of browser used in the transaction, the time spent on the
website, the number of website pages viewed, and the amount spent by the customer. The data is
shown in a file named Chocolate.
Heavenly Chocolates would like to determine if time spent on the website or the number
of pages viewed influence the total purchase. They would also like to examine any effect that
day of the week and browser type have on sales.
Managerial Report
Prepare a report (see below) using the numerical methods of descriptive statistics presented in
this module to learn how the variables contribute to the sales of chocolate. Be sure to include the
following four (4) items in your report.
1. Descriptive statistics (mean, median, range, and standard deviation) for each of the three
variables along with an explanation of what the descriptive statistics tell us about the
sales.
2. A breakdown using descriptive statistics examining the effect of days of the week on
sales. Evaluate the results.
3. A breakdown using descriptive statistics examining the effect of browser type on sales.
Evaluate the results.
4. Descriptive statistics (correlation coefficient) showing the relationship between sales (in
dollars), and each of the other two variables. Evaluate the relationships between sales (in
dollars) and each of the other variables (time spent and pages visited). Use tables, charts,
graphs, or visual dashboards to support your conclusions. Make recommendations for
continuing to develop sales to the management.
Write a report that adheres to the Written Assignment Requirements under the heading
“Expectations for CSU-Global Written Assignments” found in the CSU-Global Guide to Writing
and APA Requirements. As with all written assignments at CSU-Global, you should have in-text
citations and a reference page.
Your report must contain the following:
•
•
A title page
An introduction
GUIDE TO WRITING WITH STATISTICS
•
•
4
A body of the paper that answers the questions posed in the problem and calculations and
graphs associated with this problem.
A conclusion paragraph that addresses your findings and what you have determined from
the data and your analysis.
Submit your Excel file in addition to your report.
Note: Prompt adapted from the “Heavenly Chocolate Website Transactions Case Problem 4,” D.
Anderson, D. Sweeney, T. Williams, J. Camm, & J. Cochran, 2015, Essentials of statistics for
business and economics. (7th ed.), p. 167,168.
The following pages contain the sample paper corresponding to the prompt written
above. Read through it for ideas on how to write your own papers.
HEAVENLY CHOCOLATES WEB SALES ANALYSIS (Sample)
Heavenly Chocolates Web Sales Analysis
Student Name
MTH410 – Quantitative Business Analysis
Colorado State University–Global Campus
Instructor Name
Date
1
HEAVENLY CHOCOLATES WEB SALES ANALYSIS (Sample)
2
Heavenly Chocolates Web Sales Analysis
Website transactions are an important segment of sales and distribution today. Any
business developing a market for online sales would be wise to analyze data from both the
general marketplace and its own specific customer segment. Analysis of this data can provide
insight into further development of sales. Heavenly Chocolates data-mined their transactions for
the previous month to gather a random sample of 50 customer transactions. The sample recorded
the day of the week the purchase was made, the type of browser used in the transaction, the time
spent on their website, the number of website pages viewed, and the amount spent by the
customer. The purpose of this analysis is to determine if the time spent on the website or the
number of pages viewed influences the total purchase. The impact of day of the week and
browser type on sales will also be studied.
Overview of Online Sales
The 50 customers sampled spent a total of $3,406.41 in the previous month. This is an
average of $68.10 per customer. The purchases ranged from a $17.80 to $158.50. The average
customer spent 12.8 minutes on the website. Time spent on the website ranged from 4.3 minutes
to 32.9 minutes. The typical customer viewed almost five pages, with two as the minimum and
ten as the maximum. The data set is summarized below in Table 1.
Table 1
Summary of Online Sales Sample
Time (min)
Pages Viewed
Amount Spent ($)
mean
12.8
4.8
68.1
median
11.4
4.5
62.2
std dev
6.1
2
32.3
min
4.3
2
17.8
HEAVENLY CHOCOLATES WEB SALES ANALYSIS (Sample)
3
Table 1
Summary of Online Sales Sample (Continued)
Time (min)
Pages Viewed
Amount Spent ($)
max
32.9
10
158.5
range
28.6
8
140.7
SUM ($)
3406.41
Note: Data compiled from the “Heavenly Chocolate Website Transactions Case Problem 4,” D.
Anderson, D. Sweeney, T. Williams, J. Camm, & J. Cochran, 2015, Essentials of statistics for
business and economics. (7th ed.), p. 167,168.
Impact of Day of the Week on Sales
The daily sales breakdown reveals some interesting patterns. Sunday is the lowest sales
day, from the perspective of both total sales ($218.15) and average sales ($43.60). Monday and
Friday were the best days in terms of overall sales performance. Monday had the highest mean
(average) sales at $90.40, while Friday had the highest total sales at $945.43 for roughly 28\% of
the sample total. See Table 2 for a complete breakdown of the impact of the day of the week on
amount spent, time spent on the website, and number of pages viewed.
Table 2
Breakdown of Sales by Day of the Week
Sun
Mon
Tues
Wed
Thurs
Fri
Sat
Total
mean
43.6
90.4
59.3
57
58.8
85.9
54.1
68.1
median
37.2
104.2
67.4
53.4
59.2
70.4
55.6
62.2
std dev
12.8
43.5
14.6
24.5
30.4
33.9
17.7
32.3
min
32.7
26.7
39.1
32.7
17.8
52.1
27.9
17.8
max
64.2
158.5
74.4
94.9
91.6
155.3
78.6
158.5
range
31.4
131.8
35.4
62.2
73.8
103.2
50.7
140.7
count
5
9
7
6
5
11
7
50
Total Sales
HEAVENLY CHOCOLATES WEB SALES ANALYSIS (Sample)
4
Table 2
Breakdown of Sales by Day of the Week (Continued)
Sun
SUM ($) 218.15
Mon
Tues
Wed
Thurs
Fri
Sat
Total
813.38
414.86
341.82
294.03
945.43
378.74
3,406.41
Time Spent
mean
11.4
15.3
12.7
12.4
10.9
12.3
13.2
12.8
median
11.7
13.3
10.6
12
8.1
9.7
13.3
11.4
std dev
2.2
7.4
6
4.8
7.1
7.8
4.3
6.1
min
8
7.3
7.8
5
6.2
4.3
6
4.3
max
14.3
30.1
24.7
19.5
23.3
32.9
18.1
32.9
range
6.3
22.8
16.9
14.5
17.1
28.6
12.1
28.6
Pages Viewed
mean
4.2
6.4
4
4.2
3.8
4.8
5.3
4.8
median
4
6
4
4.5
4
4
5
4.5
std dev
1.9
2.1
2.1
1.5
2
2.3
1.1
2
min
2
4
2
2
2
3
4
2
max
7
10
7
6
7
10
7
10
range
5
6
5
4
5
7
3
8
Note: Data compiled from the “Heavenly Chocolate Website Transactions Case Problem 4,” D.
Anderson, D. Sweeney, T. Williams, J. Camm, & J. Cochran, 2015, Essentials of statistics for
business and economics. (7th ed.), p. 167,168.
By almost every measure, Monday is the best day for sales. Friday follows closely (see
Table 2). It makes logical sense to recommend that the marketing department develop
advertising targeted for Monday and Friday. Weekends are subpar and midweek statistics are
nearly equivalent. Targeting sales or special packages for midweek may produce some increased
traffic. If these recommendations are implemented, follow-up analysis is recommended to see if
the desired results are being produced.
HEAVENLY CHOCOLATES WEB SALES ANALYSIS (Sample)
5
Impact of Browser on Sales
There were also sales differences revealed by breaking the data down by browser type.
Customers using Internet Explorer to complete their transactions accounted for the highest total
sales at $1,656.81; however, this value was achieved on volume (see Table 3). Internet Explorer
had the lowest average sale at $61.36 while Firefox customers averaged $76.80 per transaction.
Table 3
Breakdown of Sales by Browser
Firefox
Internet
Explorer
Other
Total
mean
76.8
61.36
74.5
68.1
median
68
55.6
67.4
62.2
std dev
38.9
29.2
24.6
32.3
min
27.9
17.8
52.2
17.8
max
158.5
126.4
120.3
158.5
range
130.6
108.6
68.1
140.7
count
16
27
7
50
SUM ($)
1,228.21
1,656.81
521.39
3,406.41
Note: Data compiled from the “Heavenly Chocolate Website Transactions Case Problem 4,” D.
Anderson, D. Sweeney, T. Williams, J. Camm, & J. Cochran, 2015, Essentials of statistics for
business and economics. (7th ed.), p. 167,168.
The opportunity here is to target premium packages for advertising specific to Firefox.
Value packages could be created for advertising specific to Internet Explorer. This promotion
should be combined with the recommendations given regarding days of the week and subjected
to a follow-up analysis to check for results.
Relationship between Amount Spent and Website Use
The other feature of this analysis is to evaluate the relationship between amount spent by
customers and how much time they spent on the website with the additional variable of number
HEAVENLY CHOCOLATES WEB SALES ANALYSIS (Sample)
6
of pages viewed also taken into account. For this, a correlation analysis was performed. The
correlation coefficient between time spent on the website and amount spent in dollars was
moderately positive (r = 0.58). A similar moderately positive correlation coefficient (r = 0.60)
was found between the variables of time spent on the website and number of pages visited. The
strongest correlation was found between number of pages viewed on the website and amount
spent. This correlation coefficient (r = 0.72) approaches a strong positive correlation (see Figure
1). This suggests that there may be some merit in trying to guide customers to view more pages.
180.00
160.00
Dollars Spent
140.00
120.00
100.00
80.00
60.00
40.00
20.00
0.00
0
2
4
6
8
10
12
Pages Viewed
Figure 1. Relationship Between Pages Viewed and Dollars Spent. Data compiled from the
“Heavenly Chocolate Website Transactions Case Problem 4,” D. Anderson, D. Sweeney, T.
Williams, J. Camm, & J. Cochran, 2015, Essentials of statistics for business and economics. (7th
ed.), p. 167,168.
A common tactic is to guide customers to pages that have also been viewed by other
customers viewing the product on the current page. Another suggestion is to pair pages and
suggest that customers who purchased the product on the current page also frequently purchased
a product on the linked page. As with previous suggestions, follow-up analysis should be
performed to check results. On a cautionary note, this can be overdone. The statement from
HEAVENLY CHOCOLATES WEB SALES ANALYSIS (Sample)
7
Essentials of Statistics for Business and Economics that correlation is a measure of linear
association and not causation should also be duly noted (Anderson, et al., 2015).
Conclusion
The analysis of this sample of 50 random customer transactions revealed several items to
be used in the development of continued growth at Heavenly Chocolate. There is positive
correlation between all three variables, but the strongest correlation is between number of pages
viewed and amount of sales. There is adequate reason to pursue linking pages and making
suggestions for customer purchasing. Monday and Friday are the best sales days. Firefox
customers spend the most, but Internet Explorer customers provide the highest volume.
Packaging and marketing strategies can be developed using this information. This analysis
validates the use of statistical tools to provide insight into new strategies. Follow-up analysis is
also mandated to find out if the strategies are producing results.
HEAVENLY CHOCOLATES WEB SALES ANALYSIS (Sample)
References
Anderson, D.R., Sweeney, D.J., Williams, T.A., Camm, J.D., & Cochran, J.J. (2015). Essentials
of statistics for business and economics. (7th ed.). Stamford, CT: Cengage Learning.
8
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