Prompt
I have been recently hired as a junior analyst by D.M. Pan Real Estate Company. The sales team has tasked me with preparing a report that examines the relationship between the selling price of properties and their size in square feet. I have been provided with a Real Estate County Data document that includes properties sold nationwide in recent years. The team has asked me to select a region, which I chose as Northeast Region, and to complete an initial analysis, and provide a report.
In the report provide the response variable (y) should be the median listing price and the predictor variable (x) should be the median square feet.
Generate a representative Sample of the Data
-Northeast Region generate a simple random sample of 30 from the data source provided.
-Report the median listing price and median square foot, report the mean, median, and standard deviation.
Analyze The Sample
Using the National Statistics and Graphs document discuss how the Northeast region sample created is or is not reflective of the national market.
Explain how you made this sample random.
Generate Scatterplot
Create a scatterplot of the x and y variables noted from above and include a trend line and a regression equation.
Observe Patterns
Answer the following:
Define x and y. Which variable is useful for making predictions?
Is there an association between x and y? Describe the association seen on the chatter plot.
What do you see as the shape (linear on nonlinear)?
If there was a 1,200 square foot house, based on the regression equation in the graph, what price would be best to list?
Are their any potential outliers appeared in the scatterplot?
What do they represent?
Please use Microsoft Word and Microsoft Excel
