ECON380 Assignment 3 -Business Statistics
ECON380: Business Statistics
Assignment 3
Note : you should submit both an excel file and a word file .
Given the following data :
Real estate prices, or generally the real estate market is a major economic concern for several countries, this is largely because real estate prices are connected to several other economic indicators, most importantly an individual’s well-being and security.
Factors affecting real estate sales includes: population among other variables.
|
Date |
total sales |
Population |
|
1997 |
1,547.0 |
752,071 |
|
1998 |
1,583.0 |
786,010 |
|
1999 |
1,239.0 |
812,255 |
|
2000 |
1,099.0 |
841,790 |
|
2001 |
1,405.0 |
870,283 |
|
2002 |
2,286.0 |
898,285 |
|
2003 |
2,828.0 |
927,686 |
|
2004 |
2,715.9 |
956,234 |
|
2005 |
2,227.8 |
992,217 |
|
2006 |
2,731.9 |
1,023,316 |
|
2007 |
4,448.1 |
1,054,598 |
|
2008 |
2,789.7 |
1,087,552 |
|
2009 |
1,896.4 |
1,118,911 |
|
2010 |
2,303.2 |
1,148,363 |
|
2011 |
2,896.2 |
1,183,185 |
|
2012 |
3,349.5 |
1,212,436 |
|
2013 |
3,984.2 |
1,242,499 |
|
2014 |
4,860.5 |
1,275,857 |
|
2015 |
3,436.7 |
1,307,605 |
1. Draw a scatter plot, comment on the resulting diagram.
2. Generate a single factor regression table in excel.
3. Conclude the least squares regression equation.
4. Discuss the results in detail
a. Explain the R squared.
b. Based on your answers? does a linear relationship exist between the two variables explain your results according to the scenario.
For your reference:
https://www.excel-easy.com/examples/regression.html
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Solution: ECON380 Assignment 3 -Business Statistics