Business Statistics Literature & Language Essay Paper (Essay Sample)

Business Statistics
Name
Institution
Summary
For a municipal to formulate a policy, the management team needs to refer to a properly analyzed data obtained from a reliable source. This report presents the result of a study conducted on the relationship between sales prices of homes in regards to square footage of the homes, number of bedrooms, number of bathrooms, the square footage of the lot space, and the grades assigned to those homes. A random sample of 500 transactions for home sales between the years 2001 and 2015 was used to conduct the survey. The study found that there is a positive relationship between sales prices of homes and the squared footage of the homes, square footage of the lot space, number of bedrooms and the number of bathrooms. The report also found that the sales price of the homes can be predicted using the square footage of the homes.
Introduction
The laws of Canada provide that each city should provide legislation and guidelines on all housing transactions within their jurisdiction. The regulations provided by the city managers will not only protect customers form overexploitation but also provided guidelines on the amount of tax that the homeowner should pay. However, to provide an all-round policy, the city manager must use information such as the number of bedrooms, number of bathrooms, size of the living rooms, size of the lot space and square footage of the home, based on the valuable data.
Although the city manager will be able to access the datasets from relevant organizations, they must have the data in an analyzed form that can be used to make sound decisions. It is in this respect that our client, the city management team has consulted us to provide organized and well-analyzed data that they can use to make decisions and formulate policy. This paper contains a detailed analysis of the housing prices against factors such as the number of bedrooms, number of bathrooms, square footage of the lot space, and square footage of the home. The paper will also provide recommendations to the city management based on the findings and conclusions.