GBA 306 Statistical Methods of Business Il Case Study - Indiana Real Estate Ann Perkins, a realtor in Brownsburg Indiana, would like to use estimates from a multiple regression model to help prospective sellers determine a reasonable asking price for their homes She believes that the following four factors influence the asking price Price of a house: 1) The square footage of the house (SOFT) 2) The number of bedrooms (Bed) 31 The number of bathrooms Bath) 4) The lo si LTSZ) in acres She randomly collects online listings for 50 single-Family home. The data file is in the Blackboard Case Study Indian Real Estate Duta File Excer within the Case Study folder. Requirements and associated point values: Part 1 - Provide summary statistics (with Excel Data Analysis by calculating the mean and standard deviation on the asking price, square footage, the number of bedrooms, the number of bathrooms, and the lot site. Explain each factor's mean and standard deviation. What does each of these summary statistics tell us A total of ten calculations points each for a total of 40 points Part 2 - Estimate and interpret a multiple repression model where the asking price as the response variable and the other four factors are the explanatory variables The end result should be a Excel Regression Output SUMMARY OUTPUT Regresco Staticos Multiplier Square Adj. RSquare Standard Ener Observations ANDVA MS F Since Regression Resul Standard Em Star Paber Lower 95% 959 Intercept SOFT Hed Rath ITSZ Also provide the estimate model equation Price A total of 40 points will be assigned to Port 2 Part 3 - Interpret the resulting coefficient of determination A total of 20 points will be assigned to Port 3. Part 4 - Write your findings in thorough. concise, and well-written report form. For an example review and refer to other reports throughout your textbook. There is at least one at the end of each chapter. Please note you are expected to use proper statistical terminology when appropriate but remember you are waiting for a group who may not be as knowledgeable about statistics as you are. You must be sure they can understand your findings while also writing professional report Price 399900 375000 372000 370000 325000 325000 319500 312900 299900 294900 269000 250000 249900 244994 244900 239900 234900 234000 229900 219900 209900 209850 206900 200000 194900 184900 179900 179500 165000 159900 159900 155000 154900 152000 149900 148500 146900 145500 144900 144900 139900 137900 132900 129900 129736 125000 119500 SQFT Bed 5.026 3.2 3.22 4.927 3.904 2.644 5.318 3.144 2.8 3.804 3.312 3.373 3.46 3.195 2.914 2.881 1.772 2.248 3.12 2.942 3.332 3.407 2.092 3.859 3.326 1.874 1.892 2.5 2.435 2.714 1.85 3.068 2.484 1.529 2.876 2.211 1.571 1.503 1.656 1.521 1.315 1.706 2.121 1.306 1.402 1.325 1.234 Bath 4 4 5 4 3 3 3 4 4 4 5 5 2 4 3 4 3 3 5 4 4 3 3 4 4 3 3 4 4 3 3 4 4 4 4 4 3 4 3 3 3 3 4 LTSZ 4.5 3 3 4 3 2.5 2.5 2.5 3 3.5 3 3.5 2.5 2.5 3 5 2 2.5 2.5 2.5 2.5 2.5 2 2 2.5 2 1.5 2.5 2.5 2.5 2.5 3.5 2.5 2 2.5 2.5 2 2 2 2 2 2 2.5 2 2 2 2 0.3 5 5 0.3 1 5 2.5 0.3 5 0.2 1 0.2 0.6 0.2 0.3 0.3 3.6 0.3 0.2 0.2 0.2 0.3 0.3 0.2 0.1 0.5 0.7 0.5 0.4 0.2 0.5 0.2 0.3 0.4 0.2 0.1 0.2 0.5 0.5 0.6 0.2 0.3 0.1 0.5 0.5 0.3 0.2 3 3 3 3 110387 106699 102900 1.292 1.36 1.938 3 3 3 1 1.5 1 0.2 0.1 0.1