GBA 306 Statistical Methods of Business II Case Study Indiana Real EstateAnn Perkins, a realtor in Brownsburg, Indiana, would like to use estimates from a multipleregression model to help prospective sellers determine a reasonable asking price for their homes.She believes that the following four factors influence the asking price (Price) of a house:
1) The square footage of the house (SQFT)
2) The number of bedrooms (Bed)
3) The number of bathrooms (Bath)
4) The lot size (LTSZ) in acres
She randomly collects online listings for 50 single-family homes. The data file is in theBlackboard Case Study Indiana Real Estate Data File Excel within the Case Study folder.
Requirements and associated point values:Part 1 Provide summary statistics (with Excel Data Analysis) by calculating the mean andstandard deviation on the asking price, square footage, the number of bedrooms, the numberof bathrooms, and the lot size. Explain each factors mean and standard deviation. What doeseach of these summary statistics tell us.A total of ten calculations 4 points each for a total of 40 points.
Part 2 Estimate and interpret a multiple regression model where the asking price is theresponse variable and the other four factors are the explanatory variables.The end result should be a Excel Regression OutputSUMMARY OUTPUTRegression StatisticsMultiple RR SquareAdj. R SquareStandardErrorObservationsANOVADf SS MS F Significance FRegressionResidualTotalCoefficientsStandardError t Stat P-value Lower 95% Upper 95%InterceptSQFTBedBathLTSZAlso provide the estimate model equation: Price =A total of 40 points will be assigned to Part 2.
Part 3 Interpret the resulting coefficient of determination.A total of 20 points will be assigned to Part 3.
Part 4 Write your findings in thorough, concise, and well-written report form. For an examplereview and refer to other reports throughout your textbook. There is at least one at the end ofeach chapter. Please note you are expected to use proper statistical terminology whenappropriate but remember you are writing for a group who may not be as knowledgeable aboutstatistics as you are. You must be sure they can understand your findings while also writing aprofessional report.A total of 50 points will be assigned to Part 4.
Part 5 Prepare your report in a PowerPoint Presentation and record your presentation withinRelay according to the instructions provided in the Blackboard PowerPoint Presentation CaseStudy Information located within the Case Study folder.A total of 50 points will be assigned to Part 5.The submission link to attach your Case Study Report, PowerPoint Presentation and Excel DataOutput Worksheet is in the same Case Study folder. You will record your PowerPointPresentation under Student Recordings within Knowmia (formerly Relay). Refer to the courseschedule for the Case Study due date. The case study is valued at a total of 200 points