Use the OxfordHome-modified data set.
Oxford Home
The trend in home building in recent years has been to emphasize open spaces and great rooms, rather than smaller living rooms and family rooms. A builder of speculative homes in the college community of Oxford, Ohio, had been building such homes, but his homes had been taking many months to sell and selling for substantially less than the asking price. In order to determine what types of homes would attract residents of the community, the builder contacted a statistician at a local college. The statistician went to a local real estate agency and obtained the data in OxfordHome-modified. The data set presents the sales price y, square footage x1, number of rooms x2, number of bedrooms x3, and age x4 for each of 61 single-family residences recently sold in the community.
- Draw a bar graph for the number of bedrooms. Comment on the result. [4 points]
- Draw histogram and box plot for (a) sales price and (b) square feet. Comment on the results
separately for (a) and (b). [8 points] - Draw scatter plots for (a) sales price versus square feet and (b) sales price versus age. Comment on the results. [8 points]
- Calculate the empirical rule for sales price. Compare your results with the expected theoretical percentages (68%, 95%, 99.7%). If they are very different, suggest a reason by looking at the histogram you drew for sales price. [4 points]
- Calculate the mean, median and standard deviation of sales price for the different number of bedrooms. Comment on the results by comparing the measures for the different bedrooms.
[12 points] - Create a correlation matrix for the following metrics: sales price, square feet, rooms, and age. Comment on the results with respect to the strength, direction, and significance of the correlations. [12 points]
• Correct Megastat outputs [32 points]