You are going to sell your house. You are determining what the price should be. To help you,
you have collected information of houses that have sold in your neighborhood during the past
eighteen months. You checked houses within a four-mile radius and here is the information you
collected. You are going to base your determination of the price of your house based on the
following information. Evaluate and discuss whether the data collected was appropriate and
representative of the information that is needed to analyze the problem presented in the problem setting.
House == House Age == Square Feet == Selling Price
1 == 33 == 1812 == $190,000
2 == 32 == 1915 == $205,200
3 == 32 == 1840 == $194,000
4 == 32 == 1832 == $192,000
5 == 33 == 1851 == $202,000
6 == 34 == 2032 == $208,600
7 == 31 == 1755 == $188,200
8 == 30 == 1805 == $205,000
9 == 28 == 1900 == $215,000
10 == 29 == 1485 == $192,000
11 == 31 == 1525 == $195,000
12 == 32 == 1515 == $192,200
13 == 33 == 1685 == $201,300
14 == 34 == 1600 == $205,400
15 == 35 == 1650 == $218,000
Setting 2:
You are going to set your budget for your utility (gas/water/sewer and electricity) expenses for
the next year. You have recorded your utility expenses for the past year. That information is
provided below. Evaluate and discuss whether the data collected was appropriate and
representative of the information that is required to analyze the problem presented in the
problem setting.
Utilities
Period == Gas, Water, Sewer == Electricity
Mar, 2011 == 125.47 == 65.68
Apr, 2011 == 70.89 == 61.5
May, 2011 == 72.58 == 59.93
Jun, 2011 == 80.91 == 72.17
Jul, 2011 == 66.08 == 101.35
Aug, 2011 == 84.58 == 118.04
Sep, 2011 == 80.39 == 80.07
Oct, 2011 == 88.12 == 60.76
Nov, 2011 == 86.5 == 58.7
Dec, 2011 == 130.06 == 70.22
Jan, 2012 == 131.34 == 65.5
Feb, 2012 == 121.2 == 67.71
Mar, 2012 == 98.96 == 67.99
