Qnt 351 Data Collection And Calculation

Data Collection and Calculation: Real Estate Data – Management AssessmentQNT/351Real Estate: Home Price and Size AnalysisThe team assignment for week #2 focused on using real estate data to investigate the relationship between a home’s size and its price. This week’s assignment revises and updates our prior report, while including additional graphical displays for relevant descriptive statistics. Research QuestionsPurchasing a home is the largest financial decision made by most American families. The traditional view has been that people should first buy a small “starter home,” build equity for a few years, and then move into a bigger home. The logic behind this is that smaller homes are relatively cheaper than larger homes, i.e. that there is a direct positive correlation between the price of a house and its square footage. This brings up the following research questions:What are some of the descriptive statistics for home prices and home sizes?Is there a relationship between the price of a home and its size?These research questions will be answered through an analysis of the descriptive statistics of two