Complete the Real Estate Regression Exercise.
Directions: Use the real estate data you used for your Week 2 learning team assignment. Analyze the data and explain your answers.
You are consulting for a large real estate firm. You have been asked to construct a model that can predict listing prices based on square footages for homes in the city you’ve been researching. You have data on square footages and listing prices for 100 homes.
1. Which variable is the independent variable (x) and which is the dependent variable (y)?
2. Click on any cell. Click on Insert→Scatter→Scatter with markers (upper left).
To add a trendline, click Tools→Layout→Trendline→Linear Trendline
Does the scatterplot indicate observable correlation? If so, does it seem to be strong or weak?
In what direction?