Question

Data on homes are evaluated to appraise the value of a home. Provide examples of measures that might be used in the appraisal of a home and identify the measure of central tendency that is most appropriate. In replies to peers, discuss whether you agree or disagree with their assessment and justify your response using the topic materials.

Answer 1

Variable Description

1. longitude: A measure of how far west a house is; a higher value is farther west
2. latitude: A measure of how far north a house is; a higher value is farther north
3. housingMedianAge: Median age of a house within a block; a lower number is a newer building
4. totalRooms: Total number of rooms within a block
5. totalBedrooms: Total number of bedrooms within a block
6. population: Total number of people residing within a block
7. households: Total number of households, a group of people residing within a home unit, for a block
8. medianIncome: Median income for households within a block of houses (measured in tens of thousands of US Dollars)
9. medianHouseValue: Median house value for households within a block (measured in US Dollars)
10. oceanProximity: Location of the house w.r.t ocean/sea.

Sample Data-Set

longitude	latitude	housing_median_age	total_rooms	total_bedrooms	population	households	median_income	median_house_value	ocean_proximity
-122.23	37.88	41	880	129	322	126	8.3252	452600	NEAR BAY
-122.22	37.86	21	7099	1106	2401	1138	8.3014	358500	NEAR BAY
-122.24	37.85	52	1467	190	496	177	7.2574	352100	NEAR BAY
-122.25	37.85	52	1274	235	558	219	5.6431	341300	NEAR BAY
-122.25	37.85	52	1627	280	565	259	3.8462	342200	NEAR BAY
-122.25	37.85	52	919	213	413	193	4.0368	269700	NEAR BAY
-122.25	37.84	52	2535	489	1094	514	3.6591	299200	NEAR BAY

Variable Type

Variable	Type
longitude	Continuous
latitude	Continuous
housing_median_age	Continuous
total_rooms	Continuous
total_bedrooms	Continuous
population	Continuous
households	Continuous
median_income	Continuous
median_house_value	Continuous
ocean_proximity	Categorical

For Median Variables, we are using Median in the Column name. Rest , mean would be appropriate (Except Categorical)