MAT 240 Module Two Assignment Olivia Holland.
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Southern New Hampshire University *
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Apr 3, 2024
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Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company
Olivia Holland Department of Mathematics, SNHU
MAT 240: Applied Statistics
Xianbin Li
3/17/24
Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company
Introduction
Hello I am Olivia a representer from D.M. Pan National Real Estate Company. The purpose of this Data analysis is to compare and contrast the data collection of homes in many regions. The Data collected is to be compared with the National summary data. I was asked by my team to select a random region of my choosing to compare the relationship between the square footage and the price of the listings. Generate a Representative Sample of the Data
As you can see from my sample I have chosen New England as my random selected region. How I was able to select the random sampling was utilizing the Excel sheet formula for random selection ( =RAND( ) and selecting 30 columns). After selecting the 30 random selections I was able to calculate the MEAN, Median and the Standard Deviation using excel formulas that were calculated. Mean is the represented center of a set of numbers, the mean calculated was listing price= $391,996.67, Per Sq FT=$164.91 and Sq Ft-2481. Median is the numbers that are separating the lower half from the high half. Median numbers are as follows Listing Price =$348,250.00, Per sq ft= $165.35, Sq ft= 2030. Standard Deviation is the formula which calculated the variables of the random selected numbers and the Mean. This has given us the following calculations for Standard Deviation, Listing price= $142,762.14, Per Sq Ft= $21.54
and Sq ft – 1218.
Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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Analyze Your Sample
As you will see in my next sample a generated graph was used to compare and contrast our Data findings with the National Summary Statistics and Graphs Real estate Data. Thes finding indicate that the frequency of houses bought with highest of square footage is well established at
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Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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1500 Sq Ft which means that the number of houses that have been bought for up to 2000 Sq Ft Is
more common. The Frequency between the listing prices indicate that more homes were sold at 300,000. However when compared to my own initial data it is indicated that the Median listing price and square footage has increased compared to the national data. Generate Scatterplot
Observe Patterns
The X axis represent the square ft found from the 30 random selected and the Y axis represents the Price listings of the homes. The variable most useful for making these predictions is the increased of price per home indicated on the Y axis. The association that I see in the Scatter plot shown is the increase of listing price compared to the increase of square footage. Of course, these indications represent the increase of
square footage and the increase of price of home.
Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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Based on my scatter plot I see a linear indicating the increase of the square footage value.
However, you only see the linear at a certain point value. $350,000 at 2000 Sqft, $590,000 at 4,010 Sqft, and $800,00 at 6000 Sqft. Based off of the regression equation (114.197x(1800) +I108677.537) would sell a home at 1800Sqft at $314,232.00.
I do not see any indication of outliers. The scatter plot shows the Linear line to have true representation of Data. However, a reason a listing may have outliers could be a number of possibilities such as the age or location of the home that decreases it value