Question
Assessment Tasks: You will use the housing price data in five suburbs in Perth. The data include 100 recently Sold properties in 5 suburbs in
Assessment Tasks: You will use the housing price data in five suburbs in Perth. The data include 100 recently Sold properties in 5 suburbs in Perth (Data collected includes Price, Land size, Number of bedrooms, Number of bathrooms, Number of car spaces, distance to the closest public primary/secondary government schools, and age of the house). 1. Discuss the relevance of your house price prediction (using OLS) model 2. Prepare a summary statistics table and discuss the central tendency and variations for all variables 3. Draw a histogram for house price and land size. Describe the shape (skewness) of the distribution on each variable. 4. Using your sample, calculate and discuss the 90 percent confidence interval for the Price and Age of the house. 5. Plot the dependent variable (house price) against land size, building size and age using Excel's scatter plot/dot function. Comment on the strength and the nature of the relationship between the dependent and the independent variables. 6. Present the multiple regression model with complete regression summary output. Write down the least square regression equation and correctly interpret the equation 7. State the 95% confidence interval for the slope coefficient and interpret the meaning of this 8. Predict the market price of a house that is currently advertising for sale 9. Compare your prediction and predicted value from the ANZ report Note: You are expected to use Excel perform all calculations and graphs. The Excel file is submitted along with the report
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