Overview

Recall that samples are used to generate a statistic, which businesses use to estimate the population parameter. You have learned how to take samples from populations and use them to produce statistics. For two quantitative variables, businesses can use scatterplots and the correlation coefficient to explore a potential linear relationship. Furthermore, they can quantify the relationship in a regression equation.

Prompt

This assignment picks up where the Module Two assignment left off and will use components of that assignment as a foundation.

You have submitted your initial analysis to the sales team at D.M. Pan Real Estate Company. You will continue your analysis of the provided Real Estate Data Spreadsheet spreadsheet using your selected region to complete your analysis. You may refer back to the initial report you developed in the Module Two Assignment Template to continue the work. This document and the National Summary Statistics and Graphs Real Estate Data PDF spreadsheet will support your work on the assignment.

Note: In the report you prepare for the sales team, the dependent, or response, variable (y) should be the listing price and the independent, or predictor, variable (x) should be the square feet.

Using the Module Three Assignment Template Word Document, specifically address the following:

• Regression Equation: Provide the regression equation for the line of best fit using the scatterplot from the Module Two assignment.
• Determine r: Determine r and what it means. (What is the relationship between the variables?)
• Examine the Slope and Intercepts: Examine the slope �1 and intercept �0.
• Determine the R-squared Coefficient: Determine the R-squared value.
• Conclusions: Reflect on the Relationship: Reflect on the relationship between square feet and sales price by answering the following questions:

You can use the following video tutorial that is specifically about this assignment:

• MAT-240 Module 3 Assignment

What to Submit

Submit your completed Module Three Assignment Template as a Word document that includes your response, supporting charts/graphs, and your Excel file.