House Prices Data Distribution and Data Cluster

Discussion Post
Name
Course
Institution
December 14, 2021
Discussion Post
b) Where do house prices tend to cluster?
Sale Price

Frequency

%

300,000 to 500,000

15

42%

500,000 to 600,000

14

39%

More than $ 600,000

7

19%

The selling prices of 36 house sales range from $ 300,000 to $ 500,000. 81% of the house prices are less than $ 600,000. However, in the group $ 500, 000 to $600,000, it is 39%, meaning the remaining 39% is housing ranging from $ 300,000 to $ 500,000. House price dynamics are affected by factors such as macroeconomic factors, mortgage borrowing, and access to credit (Bailey et al., 2019). The median and mode are in the $500,000 to $600,000 category meaning the house prices cluster around this range. Based on the fr...