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A real estate agent is trying to understand the nature of housing stockand home prices in and around a medium sized town in upstate New
A real estate agent is trying to understand the nature of housing stockand home prices in and around a medium sized town in upstate New York. She has collected datafrom a random sample of 1047 homes sold in the last 12 months. Data was collected on thefollowing variables, and is available in the houseprices.csv file
All of the following questions use the dataset houseprices.csv. Description of the dataset: A real estate agent is trying to understand the nature of housing stock and home prices in and around a medium sized town in upstate New York. She has collected data from a random sample of 1047 homes sold in the last 12 months. Data was collected on the following variables, and is available in the houseprices.csv file. Price - the sale price of the house in $ Living Area - in Sq. ft. Bathrooms - number of bathrooms in the house (powder rooms with no tub or shower area are considered 0.5 baths) Bedrooms - the number of bedrooms Lot Size - size of the property on which the house sits (in acres). Age - of the house in years Fireplace - whether or not the house has a fireplace (Yes = 1, No = 0) 6. 1. Provide a brief report summarizing the home values (prices) in this area. Use both graphical and numerical summaries. Your report should briefly describe what those summaries tell you, and anything of particular note/interest. 2. Assume that Price ~ N(164K, (68K)2). Given this: a. Calculate the following probabilities - P(Price > 92.8K), P(PriceStep by Step Solution
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