Excel and statistics, can you help!?

Question

I was given the following problem:

Refer to the Real Estate data , which reports information on homes sold in Venice, Florida, last year. The data is available at the rEsource site.

Let selling price be the dependent variable and size of the home the independent variable.
a. Determine the regression equation.
b. Estimate the selling price for a home with an area of
2,200 square feet.
c. Determine the 95 percent confidence interval and
d. the 95 percent prediction interval for the selling price of a home with 2,200 square feet.

I was also given an excel spreadsheet of 105 examples with columns for price, bedrooms, size, pool, distance, township, garage, baths.

I have the feeling I probably need to graph this information, but how do I do that and how do I answer all these questions? Please help!

Answer 1

The first thing is to ignore (or hide) the columns about bedrooms and such. All you want is size and price.
Then I'd suggest SORTING the data by size.

You can then generate a plot of price vs size.

Hope that helps...

Answer 2

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