regression project ( bid with 5 hours)

Anonymous
timer Asked: Nov 14th, 2016

Question description

Directions: Use the real estate data you used for your Week 2 learning team assignment (file attached). Analyze the data and explain your answers.

You are consulting for a large real estate firm. You have been asked to construct a model that can predict listing prices based on square footages for homes in the city you’ve been researching. You have data on square footages and listing prices for 100 homes.

  1. Which variable is the independent variable (x) and which is the dependent variable (y)?
  2. Click on any cell. Click on Insert→Scatter→Scatter with markers (upper left).

To add a trendline, click Tools→Layout→Trendline→Linear Trendline

Does the scatterplot indicate observable correlation? If so, does it seem to be strong or weak?

In what direction?

  1. Click on Data→Data Analysis→Regression→OK. Highlight your data (including your two headings) and input the correct columns into Input Y Range and Input X Range, respectively. Make sure to check the box entitled “Labels”.
  • (a)What is the Coefficient of Correlation between square footage and listing price?
  • (b)Does your Coefficient of Correlation seem consistent with your answer to #2 above? Why or why not?
  • (c)What proportion of the variation in listing price is determined by variation in the square footage? What proportion of the variation in listing price is due to other factors?
  • (d)Check the coefficients in your summary output. What is the regression equation relating square footage to listing price?
  • (e)Test the significance of the slope. What is your t-value for the slope? Do you conclude that there is no significant relationship between the two variables or do you conclude that there is a significant relationship between the variables?
  • (f)Using the regression equation that you designated in #3(d) above, what is the predicted sales price for a house of 2100 square feet?

http://www.realtor.com/realestateandhomes-search/Boulder-City_NV/type-single-family-home Property Address 533 Hopi Pl, Boulder City, NV 89005 854 Renaissance St, Boulder City, NV 89005 629 M Ave, Boulder City, NV 89005 649 M Ave, Boulder City, NV 89005 834 Temple Rock Ct, Boulder City, NV 89005 528 Sixth St, Boulder City, NV 89005 307 Lakeview Dr, Boulder City, NV 89005 509 Hopi Pl, Boulder City, NV 89005 529 Date St, Las Vegas, NV 89005 636 C Ave, Boulder City, NV 89005 533 Fifth St, Boulder City, NV 89005 656 D Ave, Boulder City, NV 89005 519 New Mexico St, Boulder City, NV 89005 616 Sixth St, Boulder City, NV 89005 609 M Ave, Boulder City, NV 89005 1308 Fifth St, Boulder City, NV 89005 509 New Mexico St, Boulder City, NV 89005 7581 Garden Galley St, Boulder City, NV 89139 640 G Ave, Boulder City, NV 89005 612 Lake Superior Ln, Boulder City, NV 89005 1210 Briarstone Dr, Boulder City, NV 89005 782 Sandra Dr, Boulder City, NV 89005 851 Montera Ln, Boulder City, NV 89005 619 F Ave, Boulder City, NV 89005 1125 Fuente Way, Boulder City, NV 89005 640 I Ave, Boulder City, NV 89005 1111 Comanche Way, Boulder City, NV 89005 521 Shoshone Way, Boulder City, NV 89005 1102 Arapaho Way, Boulder City, NV 89005 838 Tiger Cv, Boulder City, NV 89005 1529 Mancha Dr, Boulder City, NV 89005 635 G Ave, Boulder City, NV 89005 651 F Ave, Boulder City, NV 89005 1420 Bronco Rd, Boulder City, NV 89005 1509 Irene Dr, Boulder City, NV 89005 386 Nassau Way, Boulder City, NV 89005 1332 Colorado St, Boulder City, NV 89005 Listing Price Square Footage $ 15,500 792 $ 58,500 2,662 $ 113,500 540 $ 118,900 558 $ 119,900 6,667 $ 129,000 1,207 $ 134,999 532 $ 135,000 541 $ 152,900 948 $ 169,500 779 $ 171,500 1,875 $ 179,900 821 $ 186,900 1,630 $ 189,900 896 $ 189,900 2,568 $ 190,000 672 $ 208,000 1,069 $ 209,950 1,649 $ 214,500 1,125 $ 214,900 1,344 $ 215,000 1,620 $ 215,500 1,544 $ 219,000 1,640 $ 219,900 1,302 $ 225,000 1,374 $ 226,900 924 $ 230,000 1,688 $ 231,500 1,535 $ 239,900 1,790 $ 239,950 1,792 $ 249,500 1,676 $ 249,900 1,208 $ 249,999 808 $ 254,900 1,872 $ 255,000 2,233 $ 257,000 1,439 $ 262,900 1,156 501 Seventh St, Boulder City, NV 89005 516 Shoshone Way, Boulder City, NV 89005 708 8th St, Boulder City, NV 89005 624 Eighth St, Boulder City, NV 89005 1443 Sorrel Rd, Boulder City, NV 89005 906 Del Sol Dr, Boulder City, NV 89005 1408 Fifth St, Boulder City, NV 89005 308 La Plata Pl, Boulder City, NV 89005 644 Arrayo Way, Boulder City, NV 89005 611 Otono Dr, Boulder City, NV 89005 1513 Irene Dr, Las Vegas, NV 89005 1512 Della Ct, Boulder City, NV 89005 866 Montera Ln, Boulder City, NV 89005 627 D Ave, Boulder City, NV 89005 536 Avenue L, Boulder City, NV 89005 532 Seventh St, Boulder City, NV 89005 610 Hermosa Ln, Boulder City, NV 89005 556 Cherry St, Boulder City, NV 89005 791 San Remo Way, Boulder City, NV 89005 790 San Remo Way, Boulder City, NV 89005 667 G, Boulder City, NV 89005 659 Paloma Ct, Boulder City, NV 89005 1104 Endora Way, Boulder City, NV 89005 1503 Irene Dr, Boulder City, NV 89005 800 Marita Dr, Boulder City, NV 89005 302 Navajo Ct, Boulder City, NV 89005 1401 Cherokee Ct, Boulder City, NV 89005 880 Robinson Ln, Boulder City, NV 89005 609 Don Vincente Dr, Boulder City, NV 89005 796 Marina Dr, Boulder City, NV 89005 806 Del Monte Ln, Boulder City, NV 89005 1406 Garnet Pl, Boulder City, NV 89005 659 I Ave, Boulder City, NV 89005 717 Fifth St, Boulder City, NV 89005 1349 Denver St, Boulder City, NV 89005 912 Keys Dr, Boulder City, NV 89005 555 G Ave, Boulder City, NV 89005 1630 Broadmoor Cir, Boulder City, NV 89005 541 M Ave, Boulder City, NV 89005 508 Birch St, Boulder City, NV 89005 1103 Endora Way, Boulder City, NV 89005 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 264,900 264,900 265,000 268,888 275,000 275,000 275,900 279,000 287,000 289,900 289,900 289,900 290,000 310,000 317,500 319,500 325,000 325,000 327,500 340,000 342,000 345,000 349,500 350,000 350,000 375,000 389,000 397,500 400,888 419,000 419,900 424,900 425,000 425,000 430,000 430,000 435,000 439,900 450,000 458,000 474,900 2,279 1,850 2,139 1,585 1,775 1,553 1,953 2,412 1,627 1,500 2,163 1,608 1,736 2,382 970 1,910 1,996 1,168 1,665 2,000 2,889 1,940 1,723 2,163 2,282 2,945 2,728 2,400 1,531 2,200 1,831 2,739 1,350 1,588 1,202 2,324 2,634 1,840 2,104 1,917 3,634 1436 San Felipe Dr, Boulder City, NV 89005 1301 Alpine Dr, Boulder City, NV 89005 482 Lake Mountain Dr, Boulder City, NV 89005 1030 Keys Dr, Boulder City, NV 89005 635 Marina Dr, Boulder City, NV 89005 1596 Bermuda Dunes Dr, Boulder City, NV 89005 1305 Alpine Dr, Boulder City, NV 89005 1301 Dreamcatcher Dr, Boulder City, NV 89005 1402 Sierra Vista Pl, Boulder City, NV 89005 385 Cats Eye Dr, Boulder City, NV 89005 1427 Radig Ct, Boulder City, NV 89005 1638 Georgia Avenue 1421 Pueblo Dr, Boulder City, NV 89005 1423 Radig Ct, Boulder City, NV 89005 1321 Red Baron Ln, Boulder City, NV 89005 1243 Tamarisk Ln, Boulder City, NV 89005 842 Lime Rock Rd, Boulder City, NV 89005 607 Lido Dr, Boulder City, NV 89005 860 Reese Pl, Boulder City, NV 89005 1313 Alpine Dr, Boulder City, NV 89005 119 Caperna Ct, Boulder City, NV 89005 211 Copper Ridge Ct, Boulder City, NV 89005 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 475,000 478,000 495,000 500,000 514,000 529,900 545,000 545,000 575,000 595,000 599,000 599,999 649,000 674,000 695,000 699,000 779,000 799,000 899,000 995,000 1,350,000 1,699,000 3,121 3,076 4,566 3,431 4,300 2,710 3,835 5,391 3,008 2,349 2,712 3,154 3,047 5,154 4,091 2,543 3,821 3,913 2,090 3,475 5,456 5,597 NV/type-single-family-home Listing Price 0 - 100,000 100,000 - 200,000 200,000 - 300,000 300,00 - 400,000 400,00 - 550,000 550,000 - 1,000,000 1,000,000 - 2,000,000 TOTAL Frequency 2 14 34 15 21 12 2 100 Listing Price 40 35 30 Frequency Number of Bedrooms 2 4 1 2 6 2 2 2 3 2 4 2 2 2 4 1 2 3 3 2 3 3 4 2 3 2 3 4 3 3 2 3 3 5 3 2 2 25 20 15 10 5 0 0 - 100,000 100,000 200,000 200,000 300,000 300,00 400,000 Listing Price # of Bedrooms Frequency 1 2 3 4 5 2 17 44 27 7 Number of Bedrooms 4 4 4 3 4 3 4 4 4 3 4 3 3 4 3 3 4 3 3 3 3 3 3 4 4 5 4 3 2 3 3 4 3 3 3 3 6 3 3 3 6 1 2 3 4 5 Mean Median Mode Price Sq. Footage $ 372,442 2175.51 $ 300,000 1873.5 $289,900.00 2163 First Quartile Second Quartile Third Quartile Lower Range Value Upper Range Value Variance Standard Deviation $ 226,425 1484.75 $ 300,000 1873.5 $ 442,425 2674 $ 15,500 792 $ 1,699,000 5597 60175570763 1426015.283 $ 245,307 1194.158818 Emperical Rule Chebyshevs Theorum 3 3 5 3 5 4 4 5 3 3 3 5 3 5 4 4 4 3 3 4 4 4 Relative Frequency 0.02 0.14 0.34 0.15 0.21 0.12 0.02 1.00 Listing Price 300,00 400,000 Listing Price of Bedrooms 400,00 550,000 550,000 1,000,000 1,000,000 2,000,000 5

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