Real Estate Analysis Part 1
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Morgan State University *
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240
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Mathematics
Date
Apr 3, 2024
Type
docx
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4
Uploaded by AgentTreeNightingale39
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
Department of Mathematics, SNHU
MAT 240: Applied Statistics
Selling Price and Area Analysis for D.M. Pan National Real Estate Company
2
Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company
Introduction
[The team has requested a report to evaluate a specific region of the United States. I’ve decided to work with the Mid-Atlantic region. Also as requested, I’ve used 30 counties for the random sample. A scatterplot graph was also created to explain more visually the listing price and the square footage.]
Generate a Representative Sample of the Data
[
]
Analyze Your Sample
[I chose the Mid-Atlantic as my region. I then randomized the data, and selected the first 30 data from that region. Based on my analysis, the mean price for the Mid-Atlantic was $309,528. This was lower than regions such as the Pacific but higher than the Northeast region. We can also see the mean square foot was 1.573. ]
Generate Scatterplot
Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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[
Observe Patterns
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Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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[x represents the median square feet at which each house is sold. This is also the independent variable. Y displays the listing price for each house that is being sold. This is also known as the dependent variable.]
[The relationship between the x and the x axis can be observed that as the size of the property increases so does the listed price also increases.]
[I see the shape as linear as there is a positive correlation between the 2 variables, as they both rise with each other.]
[Based on the scatterplot, if the square feet were 1800 the listing price would be y = 96.434x + 157804 y = 96.434*1800 + 157804
y = 331385.2
[Do you see any potential outliers in the scatterplot?]
[Why do you think the outliers appeared in the scatterplot you generated?]What do they represent?]