Selling Price and Area Analysis for D.M. Pan National Real Estate Company
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University
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Introduction
The purpose of the report is to show the median listing price and the median square footage by using
The 30 houses are sampled randomly from a number of different areas and listed on a scatterplot graph.
Representative Data Sample
I chose several areas to take part in my sampling. The mean is $308,473. The median is $301,907. The
Standard deviation is $130,246.10. The y-variable for the scatterplot is the median listing
Price. In the scatter graph, x is the median square footage.
Data Analysis
The regional sample I created is reflective of the National Market. To make sure that my sample
I made a graph of a scatterplot by using Excel because it was random. To find the Mean, Median, and Mode,
The following regions have their own standard deviations. I used the RAND (=RAND ()) function to sort the regions.
Enter. Then, various standard deviations were randomly chosen from the regions. The mean is
Average or median for the specified areas.
Scatterplot
Selling Price Analysis for D.M. Pan National Real Estate Company 3
The Pattern
On the scatter graph, the x-axis is the median square footage. The y-variable in the
The median listing price is shown on the scatterplot. The x-variable will be helpful in making the
Predications because as the median square footage increases, the median price increases based on the slope, almost parallel to the X-axis (the trend line). As the square footage increases, so does the majority of the selling prices. I can use the scatter graph to estimate the cost of a house of 1200 square feet that has approximately $200,000 based on the y-variable. In the sample, there is an outlier, X=2000. The price of homes in the Ventura, CA area is much higher, which causes an outlier, Y=$742,686, than in other regions. The outlier is from a simple random sample selection.
