Develop regression model for predicting the asking price

Reference no: EM1322358

Develop a regression model for predicting the asking price of a house.

Assume that you will be selling your house and you are trying to develop a model to predict the eventual sale price of your home. You are interested in getting as many offers as possible so you do not want to set the asking price of the house too high since that would result in fewer people considering the property. On the other hand if the asking price is too low, you might be tempted to sell the property at too low a price and not realize an appropriate profit. You have available some old data (about ten years old) which you feel is the best you can get in the time frame in which you are working. You feel that by approximately doubling the old prices you would get values that are appropriate for current home sales.

Pick a random sample of 50 homes from the enclosed 90 cases. Double the asking price and selling price and use this data to develop three predictive models:

Develop a model for predicting the asking price of a house.

Reference no: EM1322358

Questions Cloud

Information security issues : What information security issues does electronic records management address? What types of mechanisms can be used to help increase collaboration across business and IS leaders?

Develop regression model for predicting the selling price : Pick a random sample of 50 homes from the enclosed 90 cases. Double the asking price and selling price and use this data to develop three predictive models:

Criticism that a proposed it architecture : How would you respond to the criticism that a proposed IT architecture is not feasible based on today's technology?

The energy bar was his only fuel : An "energy bar" contains 21g of carbohydrates. If the energy bar was his only fuel, how far could a 68 kg person walk at 5km/hr? Express your answer using two significant figures.

Develop regression model for predicting the asking price : Pick a random sample of 50 homes from the enclosed 90 cases. Double the asking price and selling price and use this data to develop three predictive models:

Pro forma income statement for organization : Make a three year Pro Forma income statement for your organization (or product/service) and include information on your financial break-even point?

The surface of water in a cylinder : A pressure of 10 Pa is applied through a piston uniformly on the surface of water in a cylinder. How much of this pressure if it is 80 cm deep?

Sketch the scatter plot for the given data : The following data provided by a coffee company are the roast time in minutes for five batches of coffee (x) and the resulting shrinkage in percent of the coffee weight(y).

Statement showing the incremental cash flows : Make a statement demostrating the incremental cash flows for this project over an 8-year period. Compute the payback period (P/B) and the net present value (NPV) for project.

User Account

All Pages