Weeks

on the
Market
23
48
9
26
20
40
51
18
25
62
33
11
15
26
27
56
12
29
60
11
33
25
50
64
23
31
78
41
14
19
32
34
70
15
12
24
20
28
32
28
12
20
12
32
28
24
24

Selling Price
$
243,270
$
324,360
$
168,540
$
267,756
$
232,140
$
397,500
$
346,620
$
190,800
$
276,660
$
298,920
$
241,680
$
286,200
$
193,980
$
273,480
$
222,600
$
422,940
$
295,740
$
270,029
$
373,014
$
198,034
$
281,144
$
235,622
$
417,188
$
381,282
$
190,800
$
329,225
$
333,866
$
326,268
$
317,682
$
211,438
$
290,709
$
311,640
$
359,499
$
298,697
$
375,000
$
340,000
$
310,000
$
279,900
$
278,500
$
273,000
$
272,000
$
270,000
$
$
$
$
$

1 Weeks on the Market

Coefficient of variation
Mean
Standard Error
Median
Mode
Standard Deviation
Sample Variance
Kurtosis
Skewness
Range
Minimum
Maximum
Sum
Count

52.15%
28.9365079365
1.9011507842
26
32
15.0899165391
227.7055811572
1.7963691261
1.3718794746
69
9
78
1823
63

2 [PLACE YOUR DIAGRAM FOR PART 2 HERE]

Weeks on the M
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0

10

20

30

Weeks
40 o

[TYPE YOUR EXPLANATION FOR PART 2 HERE] This would be a good

positive relationship between the Weeks on the Market and Selling Pric

270,000
3 SUMMARY OUTPUT
258,500
255,000
Regression Statistics
253,000 1- and +1
Multiple R
0.6128853996
249,000 closer to 1 is better
R Square
0.375628513

32
28
32
24

$
$
$
$

245,000
244,000
241,000
239,500

Adjusted R Square
Standard Error
Observations

28
32
20
28
24
32
12
24
16
16
20
28

$
$
$
$
$
$
$
$
$
$
$
$

238,000
236,500
235,000
235,000
233,000
230,000
229,000
224,500
220,000
213,000
212,000
204,000

ANOVA

0.3653929149
46245.3287734139
63

df
Regression
Residual
Total

1
61
62

Intercept
Weeks on the Market

Coefficients
204356.266920615
2357.8048184318

RESIDUAL OUTPUT
Observation
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

Predicted Selling Price

258585.777744548
317530.898205343
225576.510286502
265659.192199843
251512.363289252
298668.459657889
324604.312660639
246796.753652388
263301.387381411
350540.165663389
282163.825928866
230292.119923366
239723.339197093
265659.192199843
268016.997018275
336393.336752798
232649.924741797
272732.606655138
345824.556026525
230292.119923366
282163.825928866
263301.387381411
322246.507842207
355255.775300253
258585.777744548
277448.216292002
388265.042758298
301026.26447632
237365.534378661
249154.55847082

31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63

279806.021110434
284521.630747298
369402.604210844
239723.339197093
232649.924741797
260943.582562979
251512.363289252
270374.801836707
279806.021110434
270374.801836707
232649.924741797
251512.363289252
232649.924741797
279806.021110434
270374.801836707
260943.582562979
260943.582562979
279806.021110434
270374.801836707
279806.021110434
260943.582562979
270374.801836707
279806.021110434
251512.363289252
270374.801836707
260943.582562979
279806.021110434
232649.924741797
260943.582562979
242081.144015525
242081.144015525
251512.363289252
270374.801836707

4 [TYPE YOUR ANSWER TO PART 4 HERE] (Compare p-value with alpha.

0.0000000933948 (9.33948E-08), we can see that the regression model
relationship between the Weeks on the Market and Selling Price is sign
analysis of the residual plot, the 4 assumptions that were about the reg
regression model for the "Weeks on the Market" and "Selling Price" is
regression model, 37.56% of the variability in the "Selling Price" can be
regression analysis above there appears to be a moderately strong pos
"Selling Price". This is evidenced by a strength of relationship measure

= 204356.2669 + 2357.8048x

5 [TYPE YOUR ANSWER TO PART 5 HERE] = 204356.2669 + 2357.8048*3

if a condo were on the market for 37 weeks, they could expect it to sell

Selling Price
Coefficient of variation
Mean
Standard Error
Median
Mode
Standard Deviation
Sample Variance
Kurtosis
Skewness
Range
Minimum
Maximum
Sum
Count

21.30%
272582.904761905
7313.8346619767
267756
190800
58051.7629375033
3370007180.15208
0.1104332731
0.7547805748
254400
168540
422940
17172723
63

T 2 HERE]

Weeks on the Market vs. Selling Price

20

30

Weeks
40 on the
50 Market
60

70

80

90

Residuals

ART 2 HERE] This would be a good data set for simple linear regression because there appears to ba a
eeks on the Market and Selling Price. That is as Weeks on the Market increases so to does the Selling Price.

Weeks on the Market Residual Plot

200000
0
-200000

10

20

30

40

50

60

70

Weeks on the Market

80

90

Residuals

Weeks on the Market Residual Plot

200000
0
-200000

10

20

30

40

50

60

70

80

90

Weeks on the Market

SS
MS
F
Significance F
78483988734.3989 78483988734.3989 36.698247397 9.339483962992E-008
130456456435.03 2138630433.36114
208940445169.429
Standard Error
12680.2357616843
389.211074307

Residuals
-15315.7777445475
6829.1017946567
-57036.5102865019
2096.807800157
-19372.363289252
98831.5403421114
22015.6873393612
-55996.7536523883
13358.6126185888
-51620.1656633889
-40483.8259288658
55907.8800766345
-45743.3391970929
7820.807800157
-45416.9970182749
86546.6632472021
63090.0752582026
-2703.6066551385
27189.4439734748
-32258.1199233655
-1019.8259288658
-27679.3873814112
94941.4921577931
26026.2246997474
-67785.7777445475
51776.7837079979
-54399.0427582982
25241.7355236795
80316.465621339
-37716.5584708202

t Stat
P-value
16.1161251858 1.166872E-023
6.0579078399 9.339484E-008
9.33948E-008

Lower 95%
Upper 95%
179000.568662474 229711.96517876
1579.5291818955 3136.0804549682

if p value is greater than alpha then value not good.

10902.978889566
27118.3692527023
-9903.6042108436
58973.6608029071
142350.075258203
79056.4174370207
58487.636710748
9525.1981632934
-1306.021110434
2625.1981632934
39350.0752582026
18487.636710748
37350.0752582026
-21306.021110434
-15374.8018367066
-7943.5825629793
-11943.5825629793
-34806.021110434
-26374.8018367066
-38806.021110434
-21443.5825629793
-32374.8018367066
-43306.021110434
-16512.363289252
-35374.8018367066
-27943.5825629793
-49806.021110434
-3649.9247417974
-36443.5825629793
-22081.1440155247
-29081.1440155247
-39512.363289252
-66374.8018367066

HERE] (Compare p-value with alpha.) Based on an analysis of the p-value of

can see that the regression model is significant at the 1% level of significance. The
the Market and Selling Price is significant at the 1% level of significance. Based on an
ssumptions that were about the regression model's error term appear to be valid. The
the Market" and "Selling Price" is = 204356.2669 + 2357.8048x. Based on this sample data
iability in the "Selling Price" can be explained by the "Weeks on the Market". Based on the
pears to be a moderately strong positive relationship between "Weeks on the Market" and
y a strength of relationship measure of 0.6129.

291595.045202593

HERE] = 204356.2669 + 2357.8048*37 = 291595.0452. Based on the current regression model

weeks, they could expect it to sell for $291595.0452.

Lower 95.0%
Upper 95.0%
179000.5686625 229711.965179
1579.529181895 3136.08045497

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