Descriptive Statistics for price and floor area on Arrondissement XIX

Price Floor Area

Mean 435.955 74.145

95% Confidence Interval 320.606----551.303 53.619----94.672

5% Trimmed Mean 390.207 66.530

Median 399.00 65.00

Standard Deviation 325.3056 57.8892

Minimum 135 20.5

Maximum 2000 360.00

Range 1865 339.5

 Box Plot – Extreme Values

Extreme value is 33 with its respective value Extreme value is 33 with its respective value
as 2000 meaning this value is way above as 360 Sqm meaning this value is way above
other prices. In layman words this price for other floor areas. In layman words floor area
apartment 33 is very high as compared to for apartment 33 is very high as compared to
prices for other apartments in arrondissement floor area for other apartments in
XIX arrondissement XIX
 Scatter Plot for Arrondissement XIX

Extreme Value

This graph gives us the relation between prices and floor area of all the apartments in Arrondissement
XIX. As the floor area increases so does prices for those apartments.
 Regression

Line Equation :
Estimation of Price of apartment = 29.939 + 5.476 * Floor area of apartment

Estimation of Sigma= 74.22

We can estimate with 95% confidence interval that price is between (Estimated price – 2*74.22 and
Estimated price + 2*74.22)-----(Estimated price – 144.44 and Estimated price + 144.44).

Coefficient of Determination = 0.9495

94.9% of the price is explained by this linear model.

Histogram for the Variable Price
 Applying Model for Floor area 30sqm

Line Equation :
Estimation of Price of apartment = 29.939 + 5.476 * 30 = 194.219

Estimation of Sigma= 74.22

Lower Bound = 194.219 – 144.44 = 45.76

Upper Bound = 194.219 + 144.44 = 342.64

We can estimate with 95% confidence interval that price is between 45.76 and 342.64.
Thank You