Home Market Value

House Age Square Feet Market Value

33 1,812 $90,000.00
32 1,914 $104,400.00
32 1,842 $93,300.00
33 1,812 $91,000.00
32 1,836 $101,900.00
33 2,028 $108,500.00
32 1,732 $87,600.00
33 1,850 $96,000.00
32 1,791 $89,200.00
33 1,666 $88,400.00
32 1,852 $100,800.00
32 1,620 $96,700.00
32 1,692 $87,500.00
32 2,372 $114,000.00
32 2,372 $113,200.00
33 1,666 $87,500.00
32 2,123 $116,100.00
32 1,620 $94,700.00
32 1,731 $86,400.00
32 1,666 $87,100.00
28 1,520 $83,400.00
27 1,484 $79,800.00
28 1,588 $81,500.00
28 1,598 $87,100.00
28 1,484 $82,600.00
28 1,484 $78,800.00
28 1,520 $87,600.00
27 1,701 $94,200.00
28 1,484 $82,000.00
28 1,468 $88,100.00
28 1,520 $88,100.00
27 1,520 $88,600.00
27 1,484 $76,600.00
28 1,520 $84,400.00
27 1,668 $90,900.00
28 1,588 $81,000.00
28 1,784 $91,300.00
27 1,484 $81,300.00
27 1,520 $100,700.00
28 1,520 $87,200.00
27 1,684 $96,700.00
27 1,581 $120,700.00
House Age Square Feet Market Value OUTLIER (Square Feet) Outlier (Market Value)
33 1812 90000 0 0
32 1914 104400 0 0
32 1842 93300 0 0
33 1812 91000 0 0
32 1836 101900 0 0
33 2028 108500 0 0
32 1732 87600 0 0
33 1850 96000 0 0
32 1791 89200 0 0
33 1666 88400 0 0
32 1852 100800 0 0
32 1620 96700 0 0
32 1692 87500 0 0
32 2372 114000 1 1
32 2372 113200 1 1
33 1666 87500 0 0
32 2123 116100 0 1
32 1620 94700 0 0
32 1731 86400 0 0
32 1666 87100 0 0
28 1520 83400 0 0
27 1484 79800 0 0
28 1588 81500 0 0
28 1598 87100 0 0
28 1484 82600 0 0
28 1484 78800 0 0
28 1520 87600 0 0
27 1701 94200 0 0
28 1484 82000 0 0
28 1468 88100 0 0
28 1520 88100 0 0
27 1520 88600 0 0
27 1484 76600 0 0
28 1520 84400 0 0
27 1668 90900 0 0
28 1588 81000 0 0
28 1784 91300 0 0
27 1484 81300 0 0
27 1520 100700 0 0
28 1520 87200 0 0
27 1684 96700 0 0
27 1581 120700 0 1
Square Feet Market Value

Quartile 1 (Q1) 1,520.00 Quartile 1 (Q1) 86,575.00

Quartile 3 (Q3) 1,806.75 Quartile 3 (Q3) 96,525.00
Interquartile Range (IQR) 286.75 Interquartile Range (IQR) 9,950.00

Upper Bond 2,236.88 Upper Bond 111,450.00

Lower Bond 1,089.88 Lower Bond 71,650.00

Answers-4a

2372 and 2372 are two outliers in square feet (Both have same values)
$113200, $114000, $116100. $120700 are the four outliers in the Market value.
House Age Square Feet Market Value
33 1,812 $90,000.00
32 1,914 $104,400.00 Home Market Value
32 1,842 $93,300.00
$124,000.00
33 1,812 $91,000.00
$117,000.00
32 1,836 $101,900.00
$110,000.00
33 2,028 $108,500.00
$103,000.00
32 1,732 $87,600.00
$96,000.00
33 1,850 $96,000.00

Market Value
$89,000.00
32 1,791 $89,200.00
$82,000.00
33 1,666 $88,400.00
$75,000.00
32 1,852 $100,800.00
$68,000.00
32 1,620 $96,700.00
$61,000.00
32 1,692 $87,500.00
$54,000.00
32 2,372 $114,000.00
$47,000.00
32 2,372 $113,200.00
$40,000.00
33 1,666 $87,500.00 1,200 1,350 1,500 1,650 1,800 1,950
32 2,123 $116,100.00
Square Feet
32 1,620 $94,700.00
32 1,731 $86,400.00
32 1,666 $87,100.00 Correlation 0.73 0.53
28 1,520 $83,400.00 Answer: 4b
27 1,484 $79,800.00 The scatter plot indicates that there is a strong and positive correlation
28 1,588 $81,500.00 to each other and are in the upward forward direction.
28 1,598 $87,100.00
28 1,484 $82,600.00
28 1,484 $78,800.00
28 1,520 $87,600.00
27 1,701 $94,200.00
28 1,484 $82,000.00
28 1,468 $88,100.00
28 1,520 $88,100.00
27 1,520 $88,600.00
27 1,484 $76,600.00
28 1,520 $84,400.00
27 1,668 $90,900.00
28 1,588 $81,000.00
28 1,784 $91,300.00
27 1,484 $81,300.00
27 1,520 $100,700.00
28 1,520 $87,200.00
27 1,684 $96,700.00
27 1,581 $120,700.00
Home Market Value

1,650 1,800 1,950 2,100 2,250 2,400 2,550

Square Feet

strong and positive correlation between the square feet and market values because the points are close
ward direction.
Answer- 4 c
The square feet is the independent variable and market value is the dependent variable
House Age Square Feet Market Value
33 1,812 $90,000.00
32 1,914 $104,400.00
32 1,842 $93,300.00 Home Marke
33 1,812 $91,000.00
32 1,836 $101,900.00 $124,000.00

33 2,028 $108,500.00 $117,000.00

$110,000.00 f(x) = 35.036372583472 x + 32
32 1,732 $87,600.00 R² = 0.534734201674492
33 1,850 $96,000.00 $103,000.00
$96,000.00
32 1,791 $89,200.00

Market Value
$89,000.00
33 1,666 $88,400.00
$82,000.00
32 1,852 $100,800.00
$75,000.00
32 1,620 $96,700.00
$68,000.00
32 1,692 $87,500.00
$61,000.00
32 2,372 $114,000.00
$54,000.00
32 2,372 $113,200.00
$47,000.00
33 1,666 $87,500.00
$40,000.00
32 2,123 $116,100.00
1,200 1,350 1,500 1,650 1,800
32 1,620 $94,700.00
32 1,731 $86,400.00 Squar
32 1,666 $87,100.00
28 1,520 $83,400.00
27 1,484 $79,800.00
28 1,588 $81,500.00
28 1,598 $87,100.00
28 1,484 $82,600.00 where Y= dependent (Market Value)
28 1,484 $78,800.00 X= independent (Square Feet)
28 1,520 $87,600.00 a= intercept 32673.2199
27 1,701 $94,200.00 b= slope 35.0363726
28 1,484 $82,000.00
28 1,468 $88,100.00 The regression equation formed is
28 1,520 $88,100.00 Y= a +bX
27 1,520 $88,600.00 Answer- 4 d Market Value (Y) = 32673.2+35.0364* Square
27 1,484 $76,600.00
28 1,520 $84,400.00
27 1,668 $90,900.00
28 1,588 $81,000.00
28 1,784 $91,300.00
27 1,484 $81,300.00
27 1,520 $100,700.00
28 1,520 $87,200.00
27 1,684 $96,700.00
27 1,581 $120,700.00
 Home Market Value

(x) = 35.036372583472 x + 32673.219897243

R² = 0.534734201674492

500 1,650 1,800 1,950 2,100 2,250 2,400 2,550

Square Feet

Market Value)

n formed is

73.2+35.0364* Square Feet

Answer- 4 d

The market value at 1450 square feet will be

Y= a +bX
Market Value (Y) = 32673.2+35.0364* Square Feet
Market Value (Y) = 32673.2 + 35.0364 (1450)
Market Value (Y) = 32673.2 + 50802.78
Market Value (Y) = $ 83475.98
Thus, the market value at 1450 square feet is $ 83475.98
House Age Square Feet Market Value
33 1,812 $90,000.00
32 1,914 $104,400.00
32 1,842 $93,300.00
33 1,812 $91,000.00
32 1,836 $101,900.00
33 2,028 $108,500.00
32 1,732 $87,600.00 Answer- 4 f
33 1,850 $96,000.00
32 1,791 $89,200.00 Correlation
33 1,666 $88,400.00 0.731255223348519
32 1,852 $100,800.00
32 1,620 $96,700.00 Coeficient of Determintion (R^2)
32 1,692 $87,500.00 0.534734201674493
32 2,372 $114,000.00
32 2,372 $113,200.00 R^2= 0.53 indicates that 53.47 % variability is explained by its linear
33 1,666 $87,500.00
32 2,123 $116,100.00
32 1,620 $94,700.00
32 1,731 $86,400.00
32 1,666 $87,100.00
28 1,520 $83,400.00
27 1,484 $79,800.00
28 1,588 $81,500.00
28 1,598 $87,100.00
28 1,484 $82,600.00
28 1,484 $78,800.00
28 1,520 $87,600.00
27 1,701 $94,200.00
28 1,484 $82,000.00
28 1,468 $88,100.00
28 1,520 $88,100.00
27 1,520 $88,600.00
27 1,484 $76,600.00
28 1,520 $84,400.00
27 1,668 $90,900.00
28 1,588 $81,000.00
28 1,784 $91,300.00
27 1,484 $81,300.00
27 1,520 $100,700.00
28 1,520 $87,200.00
27 1,684 $96,700.00
27 1,581 $120,700.00
ability is explained by its linear relationship with Y (market value) while 46.53% variations are due to other factors.