OverviewThe purpose of this project is to have you complete all of the steps of a real-world linear regression research project starting with developing a research question, then completing a comprehensive statistical analysis, and ending with summarizing your research conclusions.
ScenarioYou have been hired by the D. M. Pan National Real Estate Company to develop a model to predict housing prices for homes sold in 2019. The CEO of D. M. Pan wants to use this information to help their real estate agents better determine the use of square footage as a benchmark for listing prices on homes. Your task is to provide a report predicting the housing prices based square footage. To complete this task, use the provided real estate data set for all U.S. home sales as well as national descriptive statistics and graphs provided.
DirectionsUsing the Project One Template located in the What to Submit section, generate a report including your tables and graphs to determine if the square footage of a house is a good indicator for what the listing price should be. Reference the National Statistics and Graphs document for national comparisons and the Real Estate Data Spreadsheet spreadsheet (files provided) for your statistical analysis.
Note: Present your data in a clearly labeled table and using clearly labeled graphs.
Specifically, include the following in your report:
Regression equation: Write the regression equation (i.e., line of best fit) and clearly define your variables.Interpret regression equation: Interpret the slope and intercept in context.Strength of the equation: Provide and interpret R-squared.Determine the strength of the linear regression equation you developed.Use regression equation to make predictions: Use your regression equation to predict how much you should list your home for based on the square footage of your home.ConclusionsSummarize findings: In one paragraph, summarize your findings in clear and concise plain language for the CEO to understand. Summarize your results.Did you see the results you expected, or was anything different from your expectations or experiences?What changes could support different results, or help to solve a different problem?Provide at least one question that would be interesting for follow-up research.

Pages (550 words)
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