Accounting Application Problem 11 3 Answers

Posted By Admin @ Feb 28, 2022

Tittle: Assignment on Rental areas in Melbourne

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Rental areas in Melbourne

Executive summary of Rental areas in Melbourne

In this report, there is a complete analysis of the Kingfisherbay’s housing and rental data. The data is showing the number of houses in that area. According to the excel data, there are about 120 houses in that area. All of these houses contain different features. These features include number of rooms in that house, the main size of the house, the years that has been passed, the area of the land for the house, the number of material used for this house, the distance from the train, bus and shops, the street numbers, total storeys of the house, the main style of the house, number of bedroom, kitchens, bathrooms, heating rooms and air conditioners.

 Moreover, there is also other information that is related to the view of the mountains. The next one is related to the suburb. Furthermore, there are also some details related to the weekly rent and rental return. In this report, Emma has to analyze every factor in complete detail according to the questions that are asked. According to the information in the given scenario the Melbourne suburb and it contains a median house price of about more than 1 million dollars. This report is dealing with a survey of the number of houses that are sale in the city of Kingfisherbay.

Introduction of Rental areas in Melbourne

1. Overall summary of house prices of Rental areas in Melbourne

For the summary of the house prices in Kinfisherbay, it is important to make a proper histogram for the accurate prices. It can be seen from the histogram, there are only about 5 houses that contain a price of about 192 to 422 US dollars. The next thing is that there are only 28 houses that contain house prices lies between 422 to 652 US dollars. Moreover, there are about 33 houses that contain the prices between 652 to 882 US dollar. This shows that there are about more than 30 houses with such price. After this, the price gradually increasing. It can be noted that there are only 30 houses with a price of about 822 to 1112 US dollars. Furthermore, there are about only about 25 houses that contain house prices of about 1112 to 1802 US dollars.

2. The difference in the house prices between suburbs in Kingfisherbay

Three suburb areas are selected to verify the differences in house prices in the kingfisher bay. The comparison of three areas house prices can be done by considering the counts and average price in each area. The number of counts in all the areas are different that are 46, 33, and 41 for suburb -1, suburb -2, suburb 3. The lowest average house price is observed for the suburb area 1 that is 766 AUD. On the contrary, the maximum average house price was observed for the suburb area 3 that is 1053.14 AUD. The average house prices for suburb -1, suburb -2, suburb 3 is estimated as 766 AUD, 846 AUD, and 1053 AUD respectively. The changing number of counts can induce impact on the average price values in the statistical analysis, therefore the estimation of an average number of houses with their prices is carried out by considering the number of houses in the specified price range. The frequency in the analysis defines the number of houses in the well-defined price range. The house price ranges start from 422 AUD and end on 1802 AUD and categorized as 422-652 AUD, 652 – 882 AUD, 882 - 1112 AUD, 1112 – 1342 AUD, 1342 - 1572 AUD, and 1572 – 1802 AUD. All houses in the selected suburb area under these price ranges are considered. The maximum number of houses are observed in the price range of 652 – 882 AUD that is 33 number of houses. With the gradual change in the house price, the number of houses decreased as 33, 30, 27, 12, 9, 5,4 with increasing the prices 422-652 AUD, 652 – 882 AUD, 882 - 1112 AUD, 1112 – 1342 AUD, 1342 - 1572 AUD, and 1572 – 1802 AUD respectively. The least number of houses that are only 3 houses were found in the area of highest prices that range between 1572 to 1802 AUD. Based on price analysis, it can be concluded that with increasing the price the trend of living in these areas start decreasing.