MAT 240 Module Two Assignment Template

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Selling Price and Area Analysis for D.M. Pan National Real Estate Company 1 Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company Madison Jones Southern New Hampshire University

Selling Price and Area Analysis for D.M. Pan National Real Estate Company 2 Contents Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company .................................. 1 Introduction ............................................................................................................................................. 3 Representative Data Sample .................................................................................................................... 3 Sample and Region Identification ........................................................................................................ 3 Mean, Median, & Standard Deviation ................................................................................................. 4 Data Analysis ........................................................................................................................................... 5 Reflection of Regional Sample vs National ........................................................................................... 5 Validity of Random Sample .................................................................................................................. 5 Scatterplot ............................................................................................................................................... 6 Defining the Variables .......................................................................................................................... 6 Association and Outliers ...................................................................................................................... 7 Prediction Based on Linear Regression ................................................................................................ 7

Selling Price Analysis for D.M. Pan National Real Estate Company 3 Introduction In the following report a randomly genderized sample of 30 was taken from a specific region of real estate data. The data includes square feet and listing price of homes sold in the particular area. Comparisons are made between the regional sample and the national statistics for mean, median, and standard deviation of listing price as well as square feet. Further analysis also explores the relationship between square feet and listing price of the randomized sample. Examining this relationship may lead to understanding of one factor that influences home listing prices. The trend line presented in the random sample can assist realtors in assessing the potential listing price of a home in the specific region given the square footage Representative Data Sample Sample and Region Identification The Northeast region was used during the analysis of 30 random samples. For the predictor variables (x) of square feet the and the response variable of listing price the sample included the following values: Square Feet (X) Listing Price (Y) 1,603 353,400 1,610 266,000 2,085 414,000 1,893 343,200 1,126 266,500 5,290 786,800 1,573 321,300 1,905 336,400 1,644 314,400 2,031 331,300 1,796 269,200 1,595 277,800 1,363 277,700 1,983 329,700 1,714 307,300

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Selling Price Analysis for D.M. Pan National Real Estate Company 4 1,827 347,000 3,697 532,600 1,797 306,900 1,456 270,900 3,656 596,900 1,648 289,000 1,566 247,000 1,183 257,400 4,736 633,300 1,658 259,300 1,842 277,300 1,439 297,400 2,077 372,600 2,017 310,300 1,973 311,800 Mean, Median, & Standard Deviation Mean Median Standard Deviation Square Feet (X) 2,059 1,797 978.0557 Listing Price (Y) 350,157 311,050 125,426.10 Data Analysis Reflection of Regional Sample vs National As depicted in the below graphs the regional sample data is comparable to the national market statistics. In every single area of comparison, the datasets are Mean Sqft Median Sqft Std Dev Sqft 0 500 1,000 1,500 2,000 2,500 Sample vs National Square Footage Sample National

Selling Price Analysis for D.M. Pan National Real Estate Company 5 very similar. The similarity between the datasets indicates the random regional sample is a good representation of national averages. Validity of Random Sample The random sample used in the presented dataset was obtained through the RAND function in Microsoft Excel. As seen in the Excel spread sheet the column labeled “random” contains randomly generated numbers through the RAND function. Each Northeastern value was given a randomly generated number. The entire table was then sorted at random using the sort function in the data table of Microsoft Excel. The top 30 columns were then chosen as the random sample. Using the RAND function to generate random numbers guaranteed the dataset would be sorted at random. Scatterplot

Selling Price Analysis for D.M. Pan National Real Estate Company 6 0 1,000 2,000 3,000 4,000 5,000 6,000 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 f(x) = 123.98 x + 94823.74 Northeast Region Listing Price Compared to Square Feet The Pattern Defining the Variables The X values represents the listing price of each dataset and is the response variable. The Y values represent the square feet of the home sold and is the predictor variable. Square feet of a home can be an indicator of the price the house should be listed for. In general, based on the above graph and increase in square footage of a home correlates with a higher listing price. Association and Outliers As shown in the graph above the X and Y values indicate a positive relationship. When the X values of square feet increase so does the Y values of listing prices. Based on the trend the

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Selling Price Analysis for D.M. Pan National Real Estate Company 7 shape of the values is linear. One dataset does appear to be an outlier (5,290, 786,800). This dataset is indicative of an outlier because of its distance from the other datasets. The outlier in the data represent a home that had a much higher square footage than most Northeastern homes. Prediction Based on Linear Regression Based on the regression equation y- 123.98x + 94824 if 1,800 was substituted for x the solution would be 317,988. Thus, a house with 1,800 square feet should be listed for 317,988.

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