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  Generate a Representative Sample of the Data Select a region and


 

  • 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.
  • Analyze Your Sample
    • Discuss how the regional sample created is reflective of the national market.
    • Explain how you have made sure that the sample is random.
      • Explain your methods to get a truly random sample.
  • Generate Scatterplot
    • Create a scatterplot of the x and y variables noted above and include a trend line.
  • 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?
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