Business Statistics assignment

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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