Statistics Coursework

Plan

• I will begin my investigation by researching the price of property in Maidstone and Chatham.  I will do this by using the Internet and liking at different estate agent websites.
• I will look at the crime rates in the two towns and see if it effects the price.
• I am now going to prepare some data collection sheets, this is where I am going to record the data that I am hoping to collect for my various sources of research.
•  I will collect my data from the internet, making sure that it is not bias.        
• I am now going to write up the data collection process, naming and any problems I come across on the way.
• Next I am going begin some calculations to answer my hypothesis.  I am going to start by working out the mean, median, mode and range.  
• Then I am going to do some graphs to show how house prices vary and some of the reasons for this.
• Next I am going to interpret the diagrams and calculations that I have done.  I will give some explanations for the different things I have done.
• Finally I am going to conclude my investigation explaining my final results.    

Crime Rate

This affects the price of a house because less people want to live in an area with a high crime rate as their home is at risk, meaning there is less demand for houses and therefore to clear the market the equilibrium price is pushed down.these are the main things that affect the price of a house, but I think that unemployment is the major factor  affecting   the price of a house.

I will now talk about why I think unemployment is the main thing that affects house prices, I will compare the price of house with the unemployment rate in general and how it they both change together, i.e., as the unemployment rate lowers the house prices higher, and vice-versa.

Graph for crime rates in Chatham

From this graph you can see the crime rates in Maidstone. I will gather the house prices in the Maidstone area and compare it with Chatham’s house prices to see if crime does affect the price of the house.