MAT 240 Module Two Assignment Template (1)
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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
Glenda Whisnant
Department of Mathematics, SNHU
MAT 240: Applied Statistics
Ryan Whaley
March 17, 2024
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 purpose of this report is to provide D.M. Pan Real Estate Company sales team with a
report that examines the relationship between the selling price of properties and their size in square feet. They have asked me to select a region and provide the report to the sales team. Generate a Representative Sample of the Data
Region
Stat
e
County
square
feet listing
price
East South Central
al
shelby
2,133 190,10
0 East South Central
tn
sumner
4,666 544,40
0 East South Central
ky
jefferson
2,279 265,90
0 East South Central
al
talladeg
a
6,498 675,50
0 East South Central
ky
hopkins
2,007 208,00
0 East South Central
ms
hinds
2,532 268,60
0 East South Central
al
cullman
1,978 239,50
0 East South Central
tn
greene
1,950 226,00
0 East South Central
al
dale
2,579 317,50
0 East South Central
tn
rutherfor
d
1,847 159,90
0 East South Central
ky
boone
2,290 325,00
0 East South tn
hamblen
Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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Central
2,482 309,00
0 East South Central
ms
harrison
2,158 281,20
0 East South Central
ms
jackson
1,947 179,40
0 East South Central
ms
lafayette
5,248 605,30
0 East South Central
ms
jones
4,947 630,10
0 East South Central
ms
rankin
2,019 240,50
0 East South Central
al
calhoun
1,738 257,10
0 East South Central
ms
lamar
1,770 251,40
0 East South Central
al
jackson
6,420 715,30
0 East South Central
al
russell
1,679 207,40
0 East South Central
ky
fayette
2,085 227,80
0 East South Central
al
jackson
2,417 284,90
0 East South Central
tn
hawkins
2,385 269,00
0 East South Central
al
morgan
2,133 285,50
0 East South Central
al
colbert
1,987 219,90
0 East South Central
tn
jefferson
2,048 264,90
0 East South Central
al
jefferson
2,351 317,30
0
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Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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East South Central
ms
oktibbeh
a
2,135 264,40
0 East South Central
al
lee
1,792 291,10
0 Analyze Your Sample
When looking at the regional sample of the national market in comparison to the regional
sample, I have found that the regional sample average for square foot is a little higher that the average square foot for the national market.
The way I was able to make sure that the sample was random was first adding a random collum to the workbook. After adding the random collum I used the RAND function to generate random numbers in the workbook. Next, I went to data, then sort. This gives you the option to sort the data randomly. Generate Scatterplot
1,000 2,000 3,000 4,000 5,000 6,000 7,000 - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 f(x) = 107.91 x + 27836.16
R² = 0.94
listing price
Observe Patterns
Define x
and y
. Which variable is useful for making predictions?
Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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The X axes are the square footage of the home, and the Y axes is the listing price of the home.
Is there an association between x
and y
? Describe the association you see in the scatterplot.
The association I see in the scatterplot is the more square footage you have the more the house is going to sell for.
What do you see as the shape (linear or nonlinear)? Linear
If you had an 1,800 square foot house, based on the regression equation in the graph, what price would you choose to list at? The price that I would choose to list for an 1,800 square foot home for would be $
29,743.91.
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?