MAT 240 Module Three Assignment Template

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Economics

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Feb 20, 2024

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Housing Price Prediction Model for D.M. Pan Real Estate Company Timberly Swaim Southern New Hampshire University

Median Housing Price Prediction Model for D.M. Pan National Real Estate Company 2

Median Housing Price Prediction Model for D.M. Pan National Real Estate Company 3 Regression Equation The equation would be y=96.798x + 59394. Determine r Using the formula =CORREL(x-variable, y-variable), x = square feet and y = listing price, determine (r) as 0.924458594. The value is close to +1, this shows a strong linear relationship between the variables. Examine the Slope and Intercepts Examining slope b1 and intercept b0, I was able to conclude that for every square footage increase, the listing price of a home increases by approximately $97.00. I was not able to determine the value of only the land. There is no meaningful interpretation of the intercept from my data since my minimum square footage is not close enough to 0 sqft. R -squared Coefficient The R-squared is called the coefficient of determination. We use this to measure how closely the regression line follows the pattern of the data. This shows us how a regression equation represents data. In my dataset the square of the correlation coefficient (r) is 0.924458594, it can be determined that 0.854623691 (85%) of the difference in the listing prices can be explained by the difference in square feet. Conclusions

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Median Housing Price Prediction Model for D.M. Pan National Real Estate Company 4 There is a bit of difference in square footage in my selected region versus homes overall in the United States. For instance, there is a 1,376 difference between my maximum square footage compared to the maximum average in the United States. It should be mentioned that the minimum square footage for my selected region is more comparable to that of the minimum average in the United States. There is only a 101 difference between them. However, multiplying the slope (96.80) by 100, it determines that for every 100 square feet, the listing price increases by approximately $9.679.80. Looking at the graph, it is best used for the square foot range of 1200 to 5200.

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