A real estate agent has gathered information on 40 houses that were recently sold in a...

   

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A real estate agent has gathered information on 40 houses that were recently sold in a local community. The data as shown in the snapshot below represents the following variables: the selling price of each house (in thousands of dollars), the appraised value of each house (in thousands of dollars), the size of the house (in hundreds of square feet), and the number of bedrooms. The data is in the file housing data.xls. House Value Price Sq. Footage # of Bedrooms 1 121.87 119.37 20.5 4 122.78 130.39 15.9 144.35 135.70 18.6 4 116.20 126.30 12.1 2 a. Indicate the data type of each of the four variables. b. Generate histograms for both the appraised values and selling price. In what ways are the two distributions similar? In what ways are they different? Generate a scatterplot comparing the selling price and the appraised value. Is there a linear relationship between these two variables? If so, how would you characterize the relationship? C. 3. 3. 2. 3. d. Generate two plots, the first examining the relationship between the size of the home and the selling price., and the second chart examining the relationship between the number of bedrooms in the home and its selling price. Which of these two variables (the size of the home or the number of bedrooms) seems to have the stronger relationship with the home's selling price? Justify your answer. A real estate agent has gathered information on 40 houses that were recently sold in a local community. The data as shown in the snapshot below represents the following variables: the selling price of each house (in thousands of dollars), the appraised value of each house (in thousands of dollars), the size of the house (in hundreds of square feet), and the number of bedrooms. The data is in the file housing data.xls. House Value Price Sq. Footage # of Bedrooms 1 121.87 119.37 20.5 4 122.78 130.39 15.9 144.35 135.70 18.6 4 116.20 126.30 12.1 2 a. Indicate the data type of each of the four variables. b. Generate histograms for both the appraised values and selling price. In what ways are the two distributions similar? In what ways are they different? Generate a scatterplot comparing the selling price and the appraised value. Is there a linear relationship between these two variables? If so, how would you characterize the relationship? C. 3. 3. 2. 3. d. Generate two plots, the first examining the relationship between the size of the home and the selling price., and the second chart examining the relationship between the number of bedrooms in the home and its selling price. Which of these two variables (the size of the home or the number of bedrooms) seems to have the stronger relationship with the home's selling price? Justify your answer.

Answer rating: 100% (QA)

a All four variables are quantitative variables To draw graphs we use R soft... View the full answer