A 1-2 page executive summary of your results to be provided to new employees (500 word maximum, plus tables) that gives them the â€œbottom lineâ€ on area house prices based on your findings, without the technical detail of the full report.In your memo you might:
- Give some information on the geographical area chosen, and why.
- Give an overview of the distribution of home prices in your chosen area.
- Explain to employees the factors that have the greatest impact on price.
- Use the model it to create predictions that would give employees an idea of what they might expect to pay for 2,000, 2,500, or 3,000 (or a range of your choice) square foot homes in the neighborhoods included in the data set.Be sure to use confidence intervals or predication intervals as appropriate to give the employees a sense of how likely it is that actual homes prices will match these estimates.
- You might also use your results to provide employees with a simple formula to help them estimate the cost of houses they find on the market, based on their size, location, and other characteristics.
The data and results section will give you all you need for the assignment and they are both attached as word documents.