Question

In: Statistics and Probability

GBA 306 Statistical Methods of Business II – Case Study – Indiana Real Estate Ann Perkins,...

GBA 306 Statistical Methods of Business II – 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 (SQFT)
  2. The number of bedrooms (Bed)
  3. The number of bathrooms (Bath)
  4. The lot size (LTSZ) in acres

She randomly collects online listings for 50 single-family homes. The data file is located in the Blackboard “Case Study Indiana Real Estate Data File Excel” within the Case Study folder.

Part 3 – Interpret the resulting coefficient of determination.

A total of 5 points will be assigned to Part 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 writing 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 a professional report.

A total of 20 points will be assigned to Part 4.

Solutions

Expert Solution


Related Solutions

GBA 306 Statistical Methods of Business II – Case Study – Indiana Real Estate Ann Perkins,...
GBA 306 Statistical Methods of Business II – 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 (SQFT) 2)   The number of bedrooms (Bed) 3)   The number of bathrooms (Bath) 4)   The...
Many standard statistical methods that you will study in Part II of this book are intended...
Many standard statistical methods that you will study in Part II of this book are intended for use with distributions that are symmetric and have no outliers. These methods start with the mean and standard deviation, x and s. For example, standard methods would typically be used for the IQ and GPA data here data457.dat. (a) Find x and s for the IQ data. (Round your answers to two decimal places.) x = s = (b) Find the median IQ...
Many standard statistical methods that you will study in Part II of this book are intended...
Many standard statistical methods that you will study in Part II of this book are intended for use with distributions that are symmetric and have no outliers. These methods start with the mean and standard deviation, x and s. For example, standard methods would typically be used for the IQ and GPA data here data215.dat. (a) Find x and s for the IQ data. (Round your answers to two decimal places.) X= s= Here are the numbers obs gpa iq...
Week 6 Assignment: Case Study: Stephenson Real Estate Recapitalization Stephenson Real Estate Company was founded 25...
Week 6 Assignment: Case Study: Stephenson Real Estate Recapitalization Stephenson Real Estate Company was founded 25 years ago by the current CEO, Robert Stephenson. The company purchases real estate, including land and buildings, and rents the property to tenants. The company has shown a profit every year for the past 18 years, and the shareholders are satisfied with the company’s management. Prior to founding Stephenson Real Estate, Robert was the founder and CEO of a failed alpaca farming operation. The...
Ray Perkins has been employed at Grant Real Estate for almost two years. Prior to receiving...
Ray Perkins has been employed at Grant Real Estate for almost two years. Prior to receiving his real estate license, he was a property manager with a large real estate agency in another community. During his first year with Grant, he was assigned to the residential property division and sold properties totaling $825,000. He then requested and received a transfer to the commercial division. Three months ago, Ray obtained a commercial listing that consisted of 26 acres of land near...
Find a real world business example or examples in a case study and comment on the...
Find a real world business example or examples in a case study and comment on the way hypothesis testing can be applied to answer a relevant business question. Identify the question(s) in your post and provide the data set at an attachment as a reference. Finally, explain how you would approach using the data set to answer the business question. This was the exact question posted.
Option #1: Case: Mayfield Real Estate Development Valuation Mayfield Real Estate Development is a company that...
Option #1: Case: Mayfield Real Estate Development Valuation Mayfield Real Estate Development is a company that owns and operates a number of real estate ventures. The company also engages in real estate acquisitions and sales of properties, some of which are properties the company no longer wishes to operate. Similar real estate firms earn a 15-percent rate of return. Mayfield reported the following earnings over the last five years: Year Operating Income Gain(Loss) on Sale of Assets Net Income 1...
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.
  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: The square footage of the house (SQFT) The number of bedrooms (Bed) The number of bathrooms (Bath) The lot size (LTSZ) in acres She randomly collects online listings for 50 single-family homes. . Requirements and...
Many standard statistical methods that you will study in Part II of this book are intended for use with distributions that are symmetric and have no outliers
  Many standard statistical methods that you will study in Part II of this book are intended for use with distributions that are symmetric and have no outliers. These methods start with the mean and standard deviation, x and s. For example, standard methods would typically be used for the IQ and GPA data here data211.dat.(a) Find x and s for the IQ data. (Round your answers to two decimal places.)x   =s   = (b) Find the median IQ score. It...
Case Study: Real Estate Investment Trust (REIT) You have been presented with the following set of...
Case Study: Real Estate Investment Trust (REIT) You have been presented with the following set of financial statements for the Lynn Associates Trust (LAT), a REIT that is about to make an initial stock offering to the public. This REIT specializes in the acquisition and management of regional shopping centers. Your firm, Blue Street Advisors (BSA), is an investment management company that is considering the purchase of LAT shares. You have been asked to prepare a financial analysis of the...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT