Nassau County is located approximately 25 miles east of New York City. Data in GlenCove are from a sample of 30 single-family homes located in Glen Cove. Variables included are the fair market value, land area of the property (acres), interior size of the house (square feet), age (years), number of rooms, number of bathrooms, and number of cars that can be parked in the garage.

a. Using all the data as the training sample, develop a regression tree model to predict the fair market value.

b. What conclusions can you reach about the fair market value?

c. Using half the data as the training sample and the other half of the data as the validation sample, develop a regression tree model to predict the fair market value.

d. What differences exist in the results of (a) and (c)?

e. Repeat (c) using a neural net model.

f. Compare the results of (c) and (e).