You have submitted your initial analysis to the sales team at D M Pan Real Estate Company You will continue your analysis of the provided Real Estate Data Spreadsheet spreadsheet using your selected region to complete your analysis You may refer back to the initial report you developed in the Module Two Assignment Template to continue the work This document and the National Summary Statistics and Graphs Real Estate Data PDF spreadsheet will support your work on the assignment Note In the report you prepare for the sales team, the dependent, or response, variable (y) should be the listing price and the independent, or predictor, variable (x) should be the square feet Using the Module Three Assignment Template Word Document , specifically address the following Regression Equation Provide the regression equation for the line of best fit using the scatterplot from the Module Two assignment Determine r Determine r and what it means (What is the relationship between the variables ) Determine the strength of the correlation (weak, moderate, or strong) Discuss how you determine the direction of the association between the two variables Is there a positive or negative association What do you see as the direction of the correlation Examine the Slope and Intercepts Examine the slope b1 and intercept b0 Draw conclusions from the slope and intercept in the context of this problem Does the intercept make sense based on your observation of the line of best fit Determine the value of the land only Note You can assume, when the square footage of the house is zero, that the price is the value of just the land This happens when x 0, which is the y intercept Does this value make sense in context Determine the R squared Coefficient Determine the R squared value Discuss what R squared means in the context of this analysis Conclusions Reflect on the Relationship Reflect on the relationship between square feet and sales price by answering the following questions Is the square footage for homes in your selected region different than for homes overall in the United States For every 100 square feet, how much does the price go up (i e , can you use slope to help identify price changes) What square footage range would the graph be best used for Insert the regression equation for the line of best fit using the scatterplot from your Module Two assignment Determine r and what it means and describes the direction, strength of correlation, and association between the variables Draw conclusions from the slope and intercept in the context of this problem and determine the value of only the land Explain what R squared means in the context of this analysis Reflect on the relationship between square feet and sales price by addressing key considerations such as the comparison between your selected region and overall homes in the United States, as well as analyzing how the slope can help identify price changes, how the regression equation can help identify appropriate listing prices, and what square footage ranges the graph would be best used for Summary Statistics for MAT 240 Real Estate Data (for dataset in Modules 2, 3, and 4) n Mean Median Std Dev Min Q1 Q3 Max Listing price ($) 1,000 342,365 318,000 125,914 135,300 265,250 381,600 987,600 Cost per square foot ($) 1,000 169 166 41 71 139 191 344 Square feet 1,000 2,111 1,881 921 1,101 1,626 2,215 6,516 This graph shows the frequency for listing price This graph shows the frequency for square feet Mid Atlantic nj atlantic 214,600 $173 1,239 Mid Atlantic nj burlington 309,600 $169 1,833 Mid Atlantic nj camden 238,700 $208 1,148 Mid Atlantic nj cape may 351,300 $199 1,763 Mid Atlantic nj cumberland 314,800 $260 1,209 Mid Atlantic nj gloucester 253,300 $209 1,211 Mid Atlantic nj hudson 290,300 $194 1,498 Mid Atlantic nj hunterdon 352,500 $249 1,415 Mid Atlantic nj mercer 446,400 $220 2,032 Mid Atlantic nj monmouth 278,800 $241 1,159 Mid Atlantic nj ocean 316,000 $156 2,028 Mid Atlantic nj salem 237,000 $201 1,182 Mid Atlantic dc district of columbia 286,600 $212 1,349 Mid Atlantic de kent 370,000 $224 1,653 Mid Atlantic de new castle 343,700 $179 1,921 Mid Atlantic de sussex 323,300 $164 1,972 Mid Atlantic md calvert 302,200 $198 1,529 Mid Atlantic md carroll 361,100 $180 2,007 Mid Atlantic md cecil 357,700 $201 1,779 Mid Atlantic md charles 309,700 $154 2,012 Mid Atlantic md frederick 263,600 $212 1,246 Mid Atlantic md harford 243,000 $178 1,364 Mid Atlantic md howard 310,200 $182 1,703 Mid Atlantic md montgomery 317,000 $170 1,866 Mid Atlantic md prince george's 379,600 $276 1,377 Mid Atlantic md queen anne's 273,400 $190 1,436 Mid Atlantic md st mary's 295,900 $196 1,510 Mid Atlantic md washington 282,100 $152 1,851 Mid Atlantic md wicomico 353,900 $265 1,335 Mid Atlantic md worcester 274,400 $226 1,215 Mid Atlantic md allegany 265,100 $221 1,201 Mid Atlantic md anne arundel 355,200 $183 1,942 Mid Atlantic md baltimore 311,800 $162 1,921 Mid Atlantic md baltimore city 351,000 $189 1,861 Mid Atlantic va albemarle 431,000 $228 1,893 Mid Atlantic va alexandria city 357,200 $214 1,673 Mid Atlantic va arlington 238,100 $145 1,646 Mid Atlantic va augusta 336,700 $206 1,638 Mid Atlantic va bedford 242,600 $198 1,224 Mid Atlantic va campbell 372,000 $218 1,703 Mid Atlantic va charlottesville city 310,800 $187 1,662 Mid Atlantic va chesapeake city 343,400 $221 1,555 Mid Atlantic va chesterfield 235,700 $160 1,476 Mid Atlantic va danville city 272,400 $192 1,417 Mid Atlantic va fairfax 390,100 $214 1,826 Mid Atlantic va fauquier 254,100 $219 1,162 Mid Atlantic va franklin 303,100 $205 1,475 Mid Atlantic va frederick 274,900 $189 1,453 Mid Atlantic va hampton city 267,200 $156 1,716 Mid Atlantic va hanover 273,300 $138 1,979 Mid Atlantic va henrico 248,100 $171 1,451 Mid Atlantic va henry 361,200 $260 1,390 Mid Atlantic va james city 271,300 $209 1,296 Mid Atlantic va loudoun 259,000 $179 1,450 Mid Atlantic va lynchburg city 346,400 $180 1,922 Mid Atlantic va montgomery 277,500 $247 1,122 Mid Atlantic va newport news city 296,900 $178 1,667 Mid Atlantic va norfolk city 359,900 $177 2,030 Mid Atlantic va pittsylvania 347,600 $210 1,656 Mid Atlantic va portsmouth city 407,500 $231 1,765 Mid Atlantic va prince william 294,100 $144 2,036 Mid Atlantic va richmond city 339,800 $177 1,915 Mid Atlantic va roanoke 348,200 $170 2,054 Mid Atlantic va roanoke city 248,900 $195 1,277 Mid Atlantic va rockingham 396,600 $205 1,939 Mid Atlantic va spotsylvania 340,500 $199 1,708 Mid Atlantic va stafford 306,800 $153 2,007 Mid Atlantic va suffolk city 291,400 $183 1,594 Mid Atlantic va virginia beach city 322,500 $167 1,927 Mid Atlantic va washington 373,200 $182 2,050 Mid Atlantic va york 320,900 $171 1,878 Mid Atlantic md prince george's 317,100 $166 1,906 Mid Atlantic md queen anne's 239,100 $142 1,683 Mid Atlantic md st mary's 292,400 $150 1,948 Mid Atlantic md washington 222,100 $164 1,356 Mid Atlantic md wicomico 339,100 $172 1,973 Mid Atlantic md worcester 355,800 $185 1,923 Mid Atlantic md allegany 329,100 $192 1,716 Mid Atlantic md anne arundel 258,800 $184 1,405 Mid Atlantic md baltimore 354,100 $210 1,686 Mid Atlantic md baltimore city 241,400 $170 1,419 Mid Atlantic va albemarle 381,800 $207 1,845 Mid Atlantic va alexandria city 296,300 $262 1,130 Mid Atlantic va arlington 323,700 $245 1,322 Mid Atlantic va portsmouth city 279,900 $165 1,696 Mid Atlantic va prince william 281,400 $179 1,573 Mid Atlantic va richmond city 235,800 $160 1,472 Mid Atlantic va roanoke 286,900 $220 1,307 Mid Atlantic va roanoke city 265,400 $228 1,163 Mid Atlantic va rockingham 313,400 $210 1,490 Mid Atlantic va spotsylvania 574,800 $166 3,463 Mid Atlantic nj hudson 444,400 $140 3,168 Mid Atlantic nj hunterdon 459,300 $142 3,237 Mid Atlantic nj mercer 456,100 $139 3,288 Mid Atlantic nj monmouth 524,900 $119 4,428 Mid Atlantic nj ocean 547,400 $131 4,178 Mid Atlantic nj salem 535,300 $133 4,020 Mid Atlantic dc district of columbia 690,000 $132 5,227 Mid Atlantic de kent 580,600 $116 4,985 Mid Atlantic de new castle 580,200 $130 4,479

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Question: You have submitted your initial analysis to the sales team at D.M. Pan Real Estate Company. You will continue your analysis of the provided Real

You have submitted your initial analysis to the sales team at D.M. Pan Real Estate Company. You will continue your analysis of the provided Real Estate Data Spreadsheet spreadsheet using your selected region to complete your analysis. You may refer back to the initial report you developed in the Module Two Assignment Template to continue the work. This document and the National Summary Statistics and Graphs Real Estate Data PDF spreadsheet will support your work on the assignment.

Note: In the report you prepare for the sales team, the dependent, or response, variable (y) should be the listing price and the independent, or predictor, variable (x) should be the square feet.

Using the Module Three Assignment Template Word Document, specifically address the following:

Regression Equation: Provide the regression equation for the line of best fit using the scatterplot from the Module Two assignment.
Determine r: Determine r and what it means. (What is the relationship between the variables?)
- Determine the strength of the correlation (weak, moderate, or strong).
- Discuss how you determine the direction of the association between the two variables.
  - Is there a positive or negative association?
  - What do you see as the direction of the correlation?
Examine the Slope and Intercepts: Examine the slope b1 and intercept b0.
- Draw conclusions from the slope and intercept in the context of this problem.
  - Does the intercept make sense based on your observation of the line of best fit?
- Determine the value of the land only. Note: You can assume, when the square footage of the house is zero, that the price is the value of just the land. This happens when x=0, which is the y-intercept. Does this value make sense in context?
Determine the R-squared Coefficient: Determine the R-squared value.
- Discuss what R-squared means in the context of this analysis.
Conclusions: Reflect on the Relationship: Reflect on the relationship between square feet and sales price by answering the following questions:
- Is the square footage for homes in your selected region different than for homes overall in the United States?
- For every 100 square feet, how much does the price go up (i.e., can you use slope to help identify price changes)?
- What square footage range would the graph be best used for?
- Insert the regression equation for the line of best fit using the scatterplot from your Module Two assignment
- Determine r and what it means and describes the direction, strength of correlation, and association between the variables
- Draw conclusions from the slope and intercept in the context of this problem and determine the value of only the land
- Explain what R-squared means in the context of this analysis
- Reflect on the relationship between square feet and sales price by addressing key considerations such as the comparison between your selected region and overall homes in the United States, as well as analyzing how the slope can help identify price changes, how the regression equation can help identify appropriate listing prices, and what square footage ranges the graph would be best used for
- Summary Statistics for MAT 240 Real Estate Data (for dataset in Modules 2, 3, and 4) n Mean Median Std. Dev. Min Q1 Q3 Max Listing price ($) 1,000 342,365 318,000 125,914 135,300 265,250 381,600 987,600 Cost per square foot ($) 1,000 169 166 41 71 139 191 344 Square feet 1,000 2,111 1,881 921 1,101 1,626 2,215 6,516 This graph shows the frequency for listing price. This graph shows the frequency for square feet.

Mid Atlantic	nj	atlantic	214,600	$173	1,239
Mid Atlantic	nj	burlington	309,600	$169	1,833
Mid Atlantic	nj	camden	238,700	$208	1,148
Mid Atlantic	nj	cape may	351,300	$199	1,763
Mid Atlantic	nj	cumberland	314,800	$260	1,209
Mid Atlantic	nj	gloucester	253,300	$209	1,211
Mid Atlantic	nj	hudson	290,300	$194	1,498
Mid Atlantic	nj	hunterdon	352,500	$249	1,415
Mid Atlantic	nj	mercer	446,400	$220	2,032
Mid Atlantic	nj	monmouth	278,800	$241	1,159
Mid Atlantic	nj	ocean	316,000	$156	2,028
Mid Atlantic	nj	salem	237,000	$201	1,182
Mid Atlantic	dc	district of columbia	286,600	$212	1,349
Mid Atlantic	de	kent	370,000	$224	1,653
Mid Atlantic	de	new castle	343,700	$179	1,921
Mid Atlantic	de	sussex	323,300	$164	1,972
Mid Atlantic	md	calvert	302,200	$198	1,529
Mid Atlantic	md	carroll	361,100	$180	2,007
Mid Atlantic	md	cecil	357,700	$201	1,779
Mid Atlantic	md	charles	309,700	$154	2,012
Mid Atlantic	md	frederick	263,600	$212	1,246
Mid Atlantic	md	harford	243,000	$178	1,364
Mid Atlantic	md	howard	310,200	$182	1,703
Mid Atlantic	md	montgomery	317,000	$170	1,866
Mid Atlantic	md	prince george's	379,600	$276	1,377
Mid Atlantic	md	queen anne's	273,400	$190	1,436
Mid Atlantic	md	st. mary's	295,900	$196	1,510
Mid Atlantic	md	washington	282,100	$152	1,851
Mid Atlantic	md	wicomico	353,900	$265	1,335
Mid Atlantic	md	worcester	274,400	$226	1,215
Mid Atlantic	md	allegany	265,100	$221	1,201
Mid Atlantic	md	anne arundel	355,200	$183	1,942
Mid Atlantic	md	baltimore	311,800	$162	1,921
Mid Atlantic	md	baltimore city	351,000	$189	1,861
Mid Atlantic	va	albemarle	431,000	$228	1,893
Mid Atlantic	va	alexandria city	357,200	$214	1,673
Mid Atlantic	va	arlington	238,100	$145	1,646
Mid Atlantic	va	augusta	336,700	$206	1,638
Mid Atlantic	va	bedford	242,600	$198	1,224
Mid Atlantic	va	campbell	372,000	$218	1,703
Mid Atlantic	va	charlottesville city	310,800	$187	1,662
Mid Atlantic	va	chesapeake city	343,400	$221	1,555
Mid Atlantic	va	chesterfield	235,700	$160	1,476
Mid Atlantic	va	danville city	272,400	$192	1,417
Mid Atlantic	va	fairfax	390,100	$214	1,826
Mid Atlantic	va	fauquier	254,100	$219	1,162
Mid Atlantic	va	franklin	303,100	$205	1,475
Mid Atlantic	va	frederick	274,900	$189	1,453
Mid Atlantic	va	hampton city	267,200	$156	1,716
Mid Atlantic	va	hanover	273,300	$138	1,979
Mid Atlantic	va	henrico	248,100	$171	1,451
Mid Atlantic	va	henry	361,200	$260	1,390
Mid Atlantic	va	james city	271,300	$209	1,296
Mid Atlantic	va	loudoun	259,000	$179	1,450
Mid Atlantic	va	lynchburg city	346,400	$180	1,922
Mid Atlantic	va	montgomery	277,500	$247	1,122
Mid Atlantic	va	newport news city	296,900	$178	1,667
Mid Atlantic	va	norfolk city	359,900	$177	2,030
Mid Atlantic	va	pittsylvania	347,600	$210	1,656
Mid Atlantic	va	portsmouth city	407,500	$231	1,765
Mid Atlantic	va	prince william	294,100	$144	2,036
Mid Atlantic	va	richmond city	339,800	$177	1,915
Mid Atlantic	va	roanoke	348,200	$170	2,054
Mid Atlantic	va	roanoke city	248,900	$195	1,277
Mid Atlantic	va	rockingham	396,600	$205	1,939
Mid Atlantic	va	spotsylvania	340,500	$199	1,708
Mid Atlantic	va	stafford	306,800	$153	2,007
Mid Atlantic	va	suffolk city	291,400	$183	1,594
Mid Atlantic	va	virginia beach city	322,500	$167	1,927
Mid Atlantic	va	washington	373,200	$182	2,050
Mid Atlantic	va	york	320,900	$171	1,878
Mid Atlantic	md	prince george's	317,100	$166	1,906
Mid Atlantic	md	queen anne's	239,100	$142	1,683
Mid Atlantic	md	st. mary's	292,400	$150	1,948
Mid Atlantic	md	washington	222,100	$164	1,356
Mid Atlantic	md	wicomico	339,100	$172	1,973
Mid Atlantic	md	worcester	355,800	$185	1,923
Mid Atlantic	md	allegany	329,100	$192	1,716
Mid Atlantic	md	anne arundel	258,800	$184	1,405
Mid Atlantic	md	baltimore	354,100	$210	1,686
Mid Atlantic	md	baltimore city	241,400	$170	1,419
Mid Atlantic	va	albemarle	381,800	$207	1,845
Mid Atlantic	va	alexandria city	296,300	$262	1,130
Mid Atlantic	va	arlington	323,700	$245	1,322
Mid Atlantic	va	portsmouth city	279,900	$165	1,696
Mid Atlantic	va	prince william	281,400	$179	1,573
Mid Atlantic	va	richmond city	235,800	$160	1,472
Mid Atlantic	va	roanoke	286,900	$220	1,307
Mid Atlantic	va	roanoke city	265,400	$228	1,163
Mid Atlantic	va	rockingham	313,400	$210	1,490
Mid Atlantic	va	spotsylvania	574,800	$166	3,463
Mid Atlantic	nj	hudson	444,400	$140	3,168
Mid Atlantic	nj	hunterdon	459,300	$142	3,237
Mid Atlantic	nj	mercer	456,100	$139	3,288
Mid Atlantic	nj	monmouth	524,900	$119	4,428
Mid Atlantic	nj	ocean	547,400	$131	4,178
Mid Atlantic	nj	salem	535,300	$133	4,020
Mid Atlantic	dc	district of columbia	690,000	$132	5,227
Mid Atlantic	de	kent	580,600	$116	4,985
Mid Atlantic	de	new castle	580,200	$130	4,479

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