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Excel Help for Real Estate in Analyzing Corporate Financial Data


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Real Estate

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ConfusedI have a question in a book that i canot seem to begin to understand.
 my problem is trying to understand the way to solve on excel.

 the problem is stated as such ;a real estate executive has created a regression model,price of the house is Y and square footage is X . the model is y(hat)=13,373 +36.65X the coefficient correlation for the model is0.63.

 they ask , use the model to predictthe selling price of a house that is (a)1,860 sq feet,(b)a house with 1,860squae feet sold for 95,000 why is that not what the model predicted?
 My question is to how to solve with excel?
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The formula is simple and you simply need to create a spreadsheet like:
Excel Spreadsheet:
 AB
1 Square feet: 1860
2 Coefficient: 36.65
3 Constant: 13373
4 Price =B3+(B2*B1)

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