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    Working with a Regression Analysis

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    1. Suppose a real estate collects sample data on prices of townhouses in a senior citizen development and their total floor space in square feet. Then, they process a regression equation using Excel. Please view the attached document for the required data needed for this question.

    (a) Process using Excel.

    (b) What is the regression equation?

    (c) Mr. and Mrs. Elder want to purchase a townhouse that has 750 square feet of total area. What is the predicted price for their dream home? Show your procedure.

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    Solution Summary

    The solution uses regression analysis to collect sample data in real estate. Excel is used to find the regression equation.