Statistical methods help in making intelligent decisions, otherwise the decisions are only pure guesses. The data that I am going to analyze are collected from the Internet, the source can be found in the references. In the assignment I am going to refer to these flats as apartments near Georgetown University.These apartments are all one-bedroom apartments with air-conditioning and cable TV. Due to the selection this population is a sample. I have selected this data set because I attended Georgetown University and I remember how difficult it was for me to find a cheap but suitable apartment near the school. So I thought it would be interesting to collect, analyze and interpret this sample. The following statistical terminologies can be distinguished; the whole set of numbers that represent the rental fees of apartments is called the data set, the name of each apartment house is called an element, and the asking price of each apapartment is called an observation. The data set in it’s original form was very large and would have been complicated to make any decisions regarding the data. On this purpose, I used descriptive statistical tools. The collected raw data can be found in the appendix in a Word format .
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