Reference no: EM132769841

Assignment: 1. Generate a Representative Sample of the Data

• Select a region and generate a simple random sample of 30 from the data.

• Report the mean, median, and standard deviation of the median listing price and the median square foot variables.

2. Analyze Your Sample

• Discuss how the regional sample created is reflective of the national market.

• Compare and contrast your sample with the population using the National Statistics and Graphs document.

• Explain how you have made sure that the sample is random.

• Explain your methods to get a truly random sample.

3. Generate Scatterplot

• Create a scatterplot of the x and y variables noted above and include a trend line.

4. Observe patterns

• Answer the following questions based on the scatterplot:

• Define x and y. Which variable is useful for making predictions?

• Is there an association between x and y? Describe the association you see in the scatter plot.

• What do you see as the shape (linear or nonlinear)?

• If you had a 1,200 square foot house, based on the regression equation in the graph, what price would you choose to list at?

• Do you see any potential outliers in the scatterplot?

• Why do you think the outliers appeared in the scatterplot you generated?

• What do they represent?