Project Description: The present study investigates the relationship between living area as measured in square feet of a home and the sale price of the home. We will do this by providing a scatterplot of the relationship where living area may be used to estimate selling price. We will add the ‘least squares regression line (trendline) and the R2 value using Excel’s scatter graph option. The data we are using was collected from real estate values obtained in an upstate New York region in 2000. The variables collected are: 1) Price – Recorded in dollars; 2) Lot size – measured in acres; 3) Living Area – measured in square feet; 4) Pct College – percent of students going to college; 5) Central Air – No = 0, Yes = 1; 6) Bedrooms – Number of bedrooms; 7) Fireplace – Number of fireplaces; 7) Bathrooms – Number of bathrooms. For the purpose of this project, you will only be using the variables, Price and Living Area.
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