The file Housedata.xlsx (pasted below) gives the square footage and sales prices for several houses in Bellevue, Washington. Use this file to answer the following questions (13-15): Square Footage 2000 2200 2400 3000 3200 3600 2900 Value 238139.4 259712 300953.7 369965.7 340091.3 405425 345131 13. You plan to build a 500-square-foot addition to your house. How much do you think your home value will increase as a result? 14. What percentage of the variation in home value is explained by the variation in the house size? 15. A 3,000-square-foot house is listed for $500,000. Is this price out of line with typical real estate values in Bellevue? What might cause this discrepancy?
The file Housedata.xlsx (pasted below) gives the square footage and sales prices for several houses in Bellevue, Washington. Use this file to answer the following questions (13-15): Square Footage 2000 2200 2400 3000 3200 3600 2900 Value 238139.4 259712 300953.7 369965.7 340091.3 405425 345131 13. You plan to build a 500-square-foot addition to your house. How much do you think your home value will increase as a result? 14. What percentage of the variation in home value is explained by the variation in the house size? 15. A 3,000-square-foot house is listed for $500,000. Is this price out of line with typical real estate values in Bellevue? What might cause this discrepancy?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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