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Housing Price Prediction Model for D.M. Pan National Real Estate Company
Module Two Notes
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Regression Equation
Y=104.08x+53707
Determine r
r = 0.84 this means it’s a strong correlation between the square footage and listing price of the properties because the number is closer to 1. As the square footage increases the listing price also increases, this creates a positive association between the two variables. Examine the Slope and Intercepts
The intercept is 53707, when the regression line crosses the y-axis it’ll be at this point. This means that when the square feet area is 0 the listing price should be 53707. The slope is 104.08, when the square footage area increases by one unit the listing price increases by $104.08 each unit.
R-squared Coefficient
R
-squared = 0.70672 . The correlation is how much the listing price is varying explained by how much the square feet is varying. Almost 71% of the variation in listing price is explained by variation of square feet.
Conclusions
sq ft
National
ENC region
listing national
ENC
