2-3 Module Two Assignment Template

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 Patricia Smith Southern New Hampshire University

Selling Price Analysis for D.M. Pan National Real Estate Company 2 Introduction The following analysis report examines the relationship between the selling price of properties located in the East North Central Region and their size in square feet. This information will be one factor that will assist D.M. Pan Real Estate Company to provide the best advice to their clients. Representative Data Sample The region selected for this sample was that of the East North Central Region. Below is a simple random sample of 30 including the mean, median, and standard deviation of the listing price and the square foot variables. Simple sample of 30 for the East North Central Region: Region State County listing price $'s per square foot square feet random East North Central oh ashland 188,000 $151 1,246 0.71667 East North Central mi ingham 222,500 $125 1,777 0.502319 East North Central oh marion 149,700 $116 1,296 0.366492 East North Central mi ionia 193,600 $137 1,416 0.729054 East North Central il dekalb 347,500 $97 3,574 0.900977 East North Central il rock island 166,300 $127 1,305 0.989362 East North Central in vigo 165,800 $122 1,362 0.095668 East North Central il tazewell 278,700 $165 1,693 0.278699 East North Central oh cuyahoga 265,100 $136 1,947 0.134928 East North Central wi rock 513,100 $104 4,950 0.4211 East North Central il coles 220,800 $117 1,893 0.122765 East North Central il knox 205,100 $118 1,740 0.684561 East North Central wi milwaukee 184,900 $111 1,666 0.93548 East North Central oh lucas 228,300 $115 1,978 0.232983 East North Central il stephenson 235,600 $140 1,682 0.801555 East North Central il jackson 154,300 $105 1,463 0.885406 East North Central mi eaton 189,900 $96 1,976 0.979204 East North Central oh tuscarawas 270,700 $149 1,815 0.939907 East North Central oh lorain 226,200 $126 1,789 0.456991 East North Central mi muskegon 230,400 $131 1,757 0.838888 East North Central oh jefferson 246,500 $136 1,814 0.098955 East North Central oh scioto 204,200 $131 1,562 0.295987 East North Central oh richland 248,900 $132 1,880 0.732386

Selling Price Analysis for D.M. Pan National Real Estate Company 4 Central Region Mean sqft 1,856 2,111 Median sqft 1,767 1,881 Std dev sqft 724 921 Based on the above comparison between the random statistic sample of the East North Central region and the national population, it can be viewed that the mean, median, and standard deviation prices as well as the square footage is lower than the national population. It does not compare and is not equal or higher than the national population. This can be based on the lower square footage in the East North Central region which would make the listing prices lower. Therefore, an assumption could be that based on the data for the national population areas the square footage is higher therefore the listing prices are higher. A simple random sample of 30 were generated from the data. To obtain a truly random sample, the following method was utilized in excel:  The East North Central region was chosen, and the other regions were removed from the excel sheet.  In the excel sheet provided with this analysis, in column “G” I entered a new title for this column and named it “random.”  In column G2 I entered the random function which is =rand(). Once you enter that function press enter and a number will appear.  On the number that appeared in G2 I hovered on the lower right of that cell and double clicked. This copied the random function on the entire column.  Once that is done, I selected and highlighted all the information on the excel sheet.  All the information should be highlighted. I then clicked on the “Data” button which is listed on the top menu of the excel sheet.  Then click on the “Sort” button listed in the top portion as well.  Once the “Sort” button is clicked, the “sort” box will appear.  In the sort box ensure that the “my data has headers” has a check mark, because headers are included in the excel sheet.  Click on the sort drop box and select “random.”  Click “ok”  Once this is done all the information will be sorted randomly.

Selling Price Analysis for D.M. Pan National Real Estate Company 5  At that point since the information had been sorted randomly, I chose the sample of 30 and removed the others. Scatterplot 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 - 100,000 200,000 300,000 400,000 500,000 600,000 f(x) = 89.29 x + 65093.56 East North Central Region In this scatterplot the response/dependent variable (y) is the listing price, and the predictor/independent variable (x) is the square feet. Also, included in the scatterplot is the trend line and the regression equation of y=89.289x + 65094. The Pattern As indicated above the scatterplot response/dependent variable (y) is the listing price and the predictor/independent variable (x) is the square feet. Based on the scatterplot information we can see that there is a trend. It is not perfectly linear, but it is positive. The predictor/independent

Selling Price Analysis for D.M. Pan National Real Estate Company 7 However, this is an analysis of data, and it can be used as only one factor before decisions are made.

Selling Price Analysis for D.M. Pan National Real Estate Company 8 References YouTube. (2021, November 9). MAT-240 Module 2 Assignment[video]. YouTube. https://youtu.be/PCL4YbDeGvg Illowskym, B., & Dean, S. (2013). Introductory Statistics: OpenStax. Introductory Statistics. https://openstax.org/books/introductory-statistics/pages/2-1-stem-leaf-graphs-stemplots-line- graphs-and-bar-graphs Study.com. (2003-2023). Classifying Linear & Nonlinear Relationships from Scatter Plots. Study.com. https://study.com/skill/learn/classifying-linear-nonlinear-relationships-from-scatter- plots-explanation .