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
Rina Mitchell
Department of Mathematics, SNHU
MAT 240: Applied Statistics
Phong Chau
09/14/2025
Selling Price and Area Analysis for D.M. Pan National Real Estate Company 2
Selling Price and Area Analysis for D.M. Pan National Real Estate Company 3
Report: Selling Price and Area Analysis for D.M. Pan National Real Estate Company
Introduction
I have recently been hired as a junior analyst by D.M. Pan National Real Estate Company. I
have prepared a report that examines the relationship between the selling price of properties and
their size in square feet. The research will determine, does smaller square footage = lower listing
prices? Does larger square footage = higher listing prices?
Linear Regression will be used to test out that theory. Linear Regression is the best method to
see patterns, understand the relationship, and also to predict future outcomes.
Generate a Representative Sample of the Data
Region
Stat
e County
square
feet
listing
price
West North
Central ny herkimer
1,797
306,900
West North
Central pa venango
1,749
284,800
West North
Central pa lancaster
1,465
248,500
West North
Central ny putnam
1,532
272,300
West North
Central pa crawford
1,435
292,400
West North
Central pa
northumberlan
d
1,852
301,600
West North
Central ny chautauqua
1,905
336,400
West North
Central ny niagara
1,517
261,400
West North
Central ny dutchess
1,708
298,300
West North
Central pa clearfield
1,517
257,900
West North
Central pa armstrong
1,558
289,200
West North
Central ny genesee
1,983
329,700
West North
Central ny ontario
1,594
295,800
West North
Central ny bronx
1,515
314,100
West North pa berks
Selling Price and Area Analysis for D.M. Pan National Real Estate Company 4
Central 1,199 207,400
West North
Central ny rockland
1,796
269,200
West North
Central pa dauphin
2,025
282,800
West North
Central pa columbia
1,595
277,800
West North
Central ny onondaga
1,714
307,300
West North
Central pa schuylkill
1,682
315,900
West North
Central ny schenectady
3,656
596,900
West North
Central ny madison
1,973
311,800
West North
Central ny cortland
1,893
343,200
West North
Central pa philadelphia
1,489
246,700
West North
Central ny tompkins
1,678
238,000
West North
Central pa franklin
1,363
277,700
West North
Central ny kings
1,310
247,900
West North
Central ny franklin
1,577
302,600
West North
Central ny fulton
1,965
379,900
West North
Central ny cayuga
3,141
523,300
West North
Central ny jefferson
1,504
287,800
Analyze Your Sample
I have chosen random 30 samples from data provided. I have also calcurated the mean and
standard deviation for square footage and the listing price. Mean Sq. footage = 1764 Sq.ft, Mean
listing price = $306,629. Standard Deviation = 487.921 Sq.ft. Std. Dev. = $76,436.031 listing
price. National listing data shows Mean = 342,365/1000 Sq ft., Median = 318,000. And Std. Dev.
125, 914. The Region I have chosen is West North Central and I wanted to make sure I gathered
samples from different states so I have sorted the data and chose random as my excel option.
Selling Price and Area Analysis for D.M. Pan National Real Estate Company 5
Generate Scatterplot
1,000 1,500 2,000 2,500 3,000 3,500 4,000
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
f(x) = 147.508470026857 x + 46409.81611746
R² = 0.886621719332744
Observe Patterns
For My Observation, X = Square Footage, and Y = Listing Price. The association in the
Scatterplot is positive because as Square footage (X) increases, the home listing prices (Y) tend
to increase as well. The shape I see in the Scatterplot is Linear.
What is the predicted listing price for an 1800 Square ft. house?
Y= 147.51(1800) + 46410 = $311,928.
I do see 2 homes of an outliner in a Scatterplot. Outliners appear because either the home is
much more expensive or chaper than expected size. As you can see, those 2 dots are isolated
from the main group.
Selling Price and Area Analysis for D.M. Pan National Real Estate Company 6
Reference:
MAT 240 Real Estate Data on Excel Spread sheet
