Sample of other condominium prices (prices in thousands) - Bay View = 1; No Bay
ID: 3221993 • Letter: S
Question
Sample of other condominium prices (prices in thousands) - Bay View = 1; No Bay View = 2
Bay Real Estate just signed contracts for two new listings: a Bay View Condominium with a list price of $600,000 and a No Bay View condominium with a list price of $275,000. What is your estimate of the final selling price and number of days required to sell each of these units?
Listprice Salesprice Days2sell View 495 475 130 1 379 350 71 1 529 519 85 1 552.5 534.5 95 1 334.9 334.9 119 1 550 505 92 1 169.9 165 197 1 210 210 56 1 975 945 73 1 314 314 126 1 315 305 88 1 885 800 282 1 975 975 100 1 469 445 56 1 329 305 49 1 365 330 48 1 332 312 88 1 520 495 161 1 425 405 149 1 675 669 142 1 409 400 28 1 649 649 29 1 319 305 140 1 425 410 85 1 359 340 107 1 469 449 72 1 895 875 129 1 439 430 160 1 435 400 206 1 235 227 91 1 638 618 100 1 629 600 97 1 329 309 114 1 595 555 45 1 339 315 150 1 215 200 48 1 395 375 135 1 449 425 53 1 499 465 86 1 439 428.5 158 1 217 217 182 1 148 135.5 338 1 186.5 179 122 2 239 230 150 2 279 267.5 169 2 215 214 58 2 279 259 110 2 179.9 176.5 130 2 149.9 144.9 149 2 235 230 114 2 199.8 192 120 2 210 195 61 2 226 212 146 2 149.9 146.5 137 2 160 160 281 2 322 292.5 63 2 187.5 179 48 2 247 227 52 2Explanation / Answer
The above solution is based on the following two regression tables:
List Price Final price Days to sell Bay View 600000 576.562307 108.9372611 No BAY view 275000 263.1681378 117.539359Related Questions
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