Your client would like to know more about the market conditions about the real estate market
in Melbourne (including all suburbs). Please provide the time series graphs for quarterly sale
volume (the number of sold properties) as well as mean and median sold price for the 2016-
2018 period.
Has the average property price increased in the first quarter of 2018 compared to the last quarter
of 2017?
Have the mean and median property price increased in the first quarter of 2018 compared to
the first quarter of 2017? Which measure (mean or median) is more suitable to use to describe
the property price evolution?
Discuss the results, including the limitations of the tests.
Task #2: Descriptive statistics (7 points)
Discuss briefly your sample, including the number of observations, outliers. Provide the
descriptive statistics of the sample. How you choose to do this is entirely at your discretion.
However, it is recommended that you consider using both summary statistic and graphical
methods while also noting any peculiarities within the data set. In addition, your client would
like to see:
 the histogram of the sold price for the entire sample1
 and the histograms of sold price for the year 2016 and the year 2017 on the same figure.

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