What is the correlation between sale price and gross square

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Reference no: EM133495018

Question 1: FOR YOUR ASSIGNED NEIGHBORHOOD,

Group the data by year, and summarize to show the average price of 1 square foot of real estate. List the results.

Get the five-number summary (minimum, 1st quantile, median, 3rd quantile, maximum) for both sale price and gross square footage for residential properties in your neighborhood since 2009

What is the correlation between sale price and gross square feet for residential properties in your neighborhood since 2009?

Question 2: FOR ALL NEIGHBORHOODS IN NYC,
Calculate the following metrics.

Median sale price for residential properties since 2009
Number of sales for residential properties since 2009
Standard deviation of sales of residential properties since 2009
Perform k-means clustering of neighborhoods based on the KPIs above. Describe the cluster that your neighborhood belongs to.

Question 3: COMPARE YOUR NEIGHBORHOOD WITH ANOTHER NEIGHBORHOOD
Choose one other neighborhood, and test the hypothesis that, starting in 2009, the average residential property costs more, less, or a different amount in your neighborhood (Note: this requires a t-test.)

After all the above analysis, do you think your neighborhood would be attractive to open a real estate office? Why?

Reference no: EM133495018

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