MAT 240 Module Two Assignment 1
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Apr 3, 2024
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MAT 240 Module Two Assignment 1
Applied Statistics (Southern New Hampshire University)
Studocu is not sponsored or endorsed by any college or university
MAT 240 Module Two Assignment 1
Applied Statistics (Southern New Hampshire University)
Studocu is not sponsored or endorsed by any college or university
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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
Stacey Roberts
Southern New Hampshire University
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Selling Price Analysis for D.M. Pan National Real Estate Company
2
Introduction
I am preparing a report for D.M. Pan Real Estate Company. I am preparing a report that shows the relationship between the selling prices of the properties and the size of the property in square footage. I will also complete an analysis of all the data that has been collected.
Representative Data Sample
In this chart there is a list of the random sample of 30 that I chose the East North Central region. I have included the mean, median and standard deviation for the listing price and the square footage.
Region
State
County
listng price
$'s per square
foot
square feet random
East North Central
in
delaware
221,600 $134
1,651 0.620895
East North Central
il
knox
205,100 $118
1,740 0.117097
East North Central
oh
clark
240,500 $137
1,752 0.463473
East North Central
oh
scioto
204,200 $131
1,562 0.068819
East North Central
oh
jeferson
246,500 $136
1,814 0.285618
East North Central
il
ogle
236,600 $208
1,138 0.613524
East North Central
in
howard
304,300 $152
1,996 0.626437
East North Central
in
wayne
203,800 $141
1,441 0.766993
East North Central
oh
athens
246,400 $158
1,560 0.534135
East North Central
mi
shiawassee
192,400 $129
1,494 0.384074
East North Central
oh
allen
227,600 $147
1,550 0.181686
East North Central
il
henry
257,700 $123
2,087 0.446011
East North Central
mi
genesee
194,800 $166
1,173 0.517668
East North Central
oh
seneca
211,900 $168
1,263 0.123731
East North Central
il
jackson
154,300 $105
1,463 0.345701
East North Central
in
lake
470,600 $109
4,316 0.256656
East North Central
in
elkhart
202,300 $182
1,113 0.6394
East North Central
wi
rock
513,100 $104
4,950 0.66104
East North Central
oh
hancock
380,300 $94
4,028 0.536067
East North Central
oh
washington
324,400 $156
2,081 0.017868
East North Central
il
sangamon
213,500 $130
1,643 0.243152
East North Central
oh
ashland
188,000 $151
1,246 0.879413
East North Central
il
dekalb
347,500 $97
3,574 0.727561
East North Central
oh
muskingum
188,300 $94
1,999 0.958508
East North Central
il
champaign
246,700 $121
2,031 0.163721
East North Central
il
adams
266,100 $166
1,599 0.131659
East North Central
il
whiteside
283,700 $136
2,087 0.528332
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Selling Price Analysis for D.M. Pan National Real Estate Company
3
East North Central
mi
isabella
163,000 $125
1,307 0.791151
East North Central
mi
calhoun
266,200 $130
2,042 0.715194
East North Central
oh
lucas
228,300 $115
1,978 0.068539
Sample
National
Mean Price
$254,323
342,365
Median Price
$232,450
318,000
STD Dev Price
82659.58
125,914
Sample
National
Mean sqft
1,989 2111
Median sqft
1,696 1881
Std Dev sqft
956
921
Data Analysis
`The random sample above show a lower listing price and square footage than what the national market shows. The lower than national square footage of properties on the average listing prices this could affect way properties are sold. There is an association between x and y in this random sample. As the square footage of the properties increase, the prices also increase on the properties. I used the formula =rand () to get the random sample of 30. I also rearranged the countries. I also arranged the sample of 30 from the smallest to the largest. I used all of these to get the least biased sample data that I possibly could. Scatterplot
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Selling Price Analysis for D.M. Pan National Real Estate Company
4
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) = 80.01 x + 95153.14
Scatter Plot
The Pattern
In the scatterplot above the variable x represents the square footage and the variable y represents the listing price of the properties. As we see in the scatterplot the square footage increased then the listing prices also increased. The linear shape of the trendline shows that there is a positive correlation between the two variables. If you had a 1,200 square foot house based on the regression equation in the graph, what would you choose to list it at. I would use the equation =80.015*1200+95153 and the amount I would list it at would be 191171.00 as this would be on trend with the other listings in the area. This is within the standard deviation and that makes it good. I do see a potential outlier and that would be the property would be the property listed at $513,100.00.
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