Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Real Estate can be a highly competitive market, and having every advantage is very important. Margaret Robinson, a local real estate agent, invests in statistical

Real Estate can be a highly competitive market, and having every advantage is very important. Margaret Robinson, a local real estate agent, invests in statistical investigation in order to improve her position in the market, and do the best job she can for her clients, all with style and class. Margaret has hired you (and your team) to utilize the Redfin website, which provides historical data, in order to ask some important questions about prices and predictions of prices in different areas that she services. You will pick two zipcodes, in Washington, to explore in this assignment.

You will download data from the Redfin site into Excel. Videos and instructions for how to do this posted on Canvas. You will then use the R code, making appropriate changes, in order to use the data you gathered.

The following variables will be used:

Price

Bedrooms

Bathrooms

Square Footage

Lot Size

Year Built

Part 1:

1) Before looking at the data, which area do you think will have higher home prices, and why?

2) Include two Histograms, one for each area, and list the average sales price for each.

3) Was your assumption about which area had higher prices in question 1 correct?

4) Provide a scatter plot against price for each variable.

5) Are the relationships linear?

6) Use Statistical inference to test the claim that the square foot of each of your areas is different than 2000

Is there sufficient evidence in either of your areas to say that the average square footage is different than 2000?

State which ones and why.

7) Use statistical inference to test the claim that the number of bathrooms in each of your areas is greater than 3.

Is there sufficient evidence in either of your areas to say that the number of bathrooms in each of your areas is greater than 3.

State which ones and why.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Finance With Excel

Authors: Simon Benninga, Tal Mofkadi

3rd Edition

0190296380, 9780190296384

More Books

Students also viewed these Finance questions

Question

Identify reasons for choosing qualitative methods.

Answered: 1 week ago

Question

Explain the purposes of managing performance.

Answered: 1 week ago

Question

List 4 methods to evaluate training.

Answered: 1 week ago