Final Project Assignment
1.) Refer to the real estate data in Blackboard. Determine whether there is a difference in the mean selling price of homes with an attached garage and homes without an attached garage.
Homes with an attached garage
A.) Mean =
B.) Standard Deviation =
C.) Number =
Homes without an attached garage
D.) Mean =
E.) Standard Deviation =
F.) Number =
G.) Explain your conclusion:
2.) Refer to the real estate data and develop the following confidence intervals:
A.) Develop a 95 percent confidence interval for the mean selling price of the homes.
B.) Develop a 95 percent confidence interval for the mean distance the home is from the center of the city.
3.) Refer to the Real Estate data in Blackboard. Use the selling price of the home as the dependent variable and determine the regression equation with the numbers of bedrooms, size of the house, whether there is a pool, distance from the center of the city, township, whether there is an attached garage, and the number of bathrooms as independent variables.
A.) Write out the regression equation. How much does a garage or an extra bathroom add to the selling price of a home?
B.) Determine the value of R-squared. Provide an interpretation of the variance R-squared represents.
C.) Develop a correlation matrix. Which independent variables have strong or weak correlations with the dependent variable (price)?