Question: All needs to be in excel please. Project Scenario As a recent graduate, you have been looking for jobs throughout New York State. Last week,

All needs to be in excel please.

Project Scenario

As a recent graduate, you have been looking for jobs throughout New York State. Last week, you received a job offer from a company that is located in Philadelphia. After careful consideration, you decided to accept this job offer. As a result, you have to sell your current home in Latham to prepare for the move.

You contact a real estate agent to begin the process of selling your current home. You provide the following information to the agent: your home is 2235 square feet, has 2.5 baths, and 3 bedrooms. There is a 4th bedroom that you converted to a study but can easily be converted back to a bedroom. In addition, the basement is finished and has a half bath; therefore, it may serve as an additional bedroom. The real estate agent suggests that you list your house for $305,000.

You want to make sure that the real estate agent lists your house at a price consistent with the other houses for sale in your town. In order to verify this information, you go to the Times Union classifieds and look at all the homes listed for sale in Latham that have between 3 and 5 bedrooms. You take a simple random sample of 30 of these homes and summarize the data in a table, which is attached to this assignment. You will use this data to perform a number of calculations and make a conclusion about whether or not the real estate agent has the house listed at a fair price based on the data that you collected.

Statistics Final Project Part II

Project Calculations

Part II. Correlation and Regression - Predicting a Listing Price

Use EXCEL to make a scatter plot of price vs. square feet for the sample data. Plot square feet on the x-axis and price on the y-axis.
Use the scatter plot to describe the relationship (if any) between square feet and price.
Use EXCEL to calculate the correlation coefficient and explain what it tells you about the
relationship between square feet and price.
Use EXCEL to calculate the least-squares regression line (trend line) for the data. Write
the equation.
Interpret the slope of the least-squares regression line. Specifically what does it tell you
about the relationship between square feet and price?
Use the equation of the least-squares regression line from #4 to estimate how much you
should charge for your home (which has 2,235 square feet). How does it compare with the price recommended by the real estate agent?

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