Selling Price and Area Analysis for D.M. Pan National Real Estate Company 1
Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company
Shana Garcia
Department of Mathematics, SNHU
MAT 240: Applied Statistics
Russell Penner
5/16/2025
Selling Price and Area Analysis for D.M. Pan National Real Estate Company 2
Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company
Introduction
In this report I analyzed the East North Central housing market and the National average
and compared the two while considering square footage, listing price, and location of the homes
to determine how the prices were determined. This report will provide and examine the
relationship between the selling price of properties and their size in square feet. Listed below is
my initial analysis.
Generate a Representative Sample of the Data
Looking at the attached criteria in this report, there will be 30 homes located in East
North Central America that I chose for my sample. I determined the mean, median, and the
standard variance of the listing price and the square foot variables. The mean of the listing price
of these 30 homes is $267,380, the median of the listing price is $255,600, and the standard
deviation of the listing price is $78,792. The square footage mean of the 30 homes in the sample
is 2,148, the median of the square footage for the 30 homes in the sample is 2,152, and the
standard deviation is 719.
Analyze Your Sample
The biggest difference in the sample and the national average is the listing price. The
sample has an average listing price of $267,380 where the National housing market average
listing price is $430,848. Clearly the National average is greater than the samples given. The
homes are also larger in the National housing market. The average square footage in the National
housing market is 2,111 and the random sample square footage average was 2,148. The
information given was most likely taken before this year’s prices as current prices have
Selling Price and Area Analysis for D.M. Pan National Real Estate Company 3
drastically increased. While determining the mean, median, and standard deviation I had to
randomly pick a total of 30 homes to use for this sample.
Generate Scatterplot
The scatterplot chart is on the attachment included on this assignment. The regression equation is
y=0.0075x+147.18.
Observe Patterns
I was able to determine the listing price was a direct result of the square footage. The
more the square footage in the home, then the higher the listing price, so by that I determined the
x axis would be the square footage and the y axis would be the listing price.
The scatterplot shows a relationship between the x and y axis as the x axis increases so
will the y axis. It is a linear line graph with a steep incline.
Based on the regression equation if a house had 1,856 square feet the listing price for that
home would be $263,000 based on $141.70 per square foot.
The data insights for this table show the average listing price per square foot by region.
For example, the average listing price per square foot in the Pacific region is $241, and in the
Mid Atlantic region, it is $188.
There are outliner points in the scatterplot because these samples were taken randomly. If
the samples were taken in order by listing price or by square footage, the points on the scatterplot
would line up more on the linear line graph and there would be fewer potential outliner points.
There would still be some since location also has a role in the listing price.
