MAT 240 Module Three Assignment Guidelines and Rubric
Overview
Recall that samples are used to generate a statistic, which businesses use to estimate the population parameter. You have learned how to take samples from populations and use them to produce statistics. For two quantitative variables, businesses can use scatterplots and the correlation coefficient to explore a potential linear relationship. Furthermore, they can quantify the relationship in a regression equation.
Prompt
This assignment picks up where the Module Two assignment left off and will use components of that assignment as a foundation.
You have submitted your initial analysis to the sales team at D.M. Pan Real Estate Company. You will continue your analysis of the provided Real Estate Data Spreadsheet spreadsheet using your selected region to complete your analysis. You may refer back to the initial report you developed in the Module Two Assignment Template to continue the work. This document and the National Summary Statistics and Graphs Real Estate Data PDF spreadsheet will support your work on the assignment.
Note: In the report you prepare for the sales team, the dependent, or response, variable (y) should be the listing price and the independent, or predictor, variable (x) should be the square feet.
Specifically, you must address the following rubric criteria:
- Regression Equation:Â Provide the regression equation for the line of best fit using the scatterplot from the Module Two assignment.
- Determine r: Determine r and what it means. (What is the relationship between the variables?)
- Determine the strength of the correlation (weak, moderate, or strong).
- Discuss how you determine the direction of the association between the two variables.
- Is there a positive or negative association?
- What do you see as the direction of the correlation?
- Examine the Slope and Intercepts: Examine the slope b1 and intercept b0.
- Draw conclusions from the slope and intercept in the context of this problem.
- Does the intercept make sense based on your observation of the line of best fit?
- Determine the value of the land only.
Note: You can assume, when the square footage of the house is zero, that the price is the value of just the land. This happens when x=0, which is the y-intercept. Does this value make sense in context?
- Draw conclusions from the slope and intercept in the context of this problem.
- Determine the R-squared Coefficient: Determine the R-squared value.
- Discuss what R-squared means in the context of this analysis.
- Conclusions:Â Reflect on the Relationship: Reflect on the relationship between square feet and sales price by answering the following questions:
- Is the square footage for homes in your selected region different than for homes overall in the United States?
- For every 100 square feet, how much does the price go up (i.e., can you use slope to help identify price changes)?
- What square footage range would the graph be best used for?
You can use the following video tutorial that is specifically about this assignment:
- MAT-240 Module 3 Assignment
What to Submit
Module Three Assignment Template: Use this template to structure your report and submit the finished version as a Word document. Also submit your Excel file showing all steps and calculations used in the report.
AI Usage
If you use gen AI tools to support your work on this assignment, be sure to follow these AI usage guidelines. You must acknowledge your use of these tools in your work. Guidelines on how to cite AI tools can be found in this Shapiro Library guide.
Module Three Assignment Rubric
| Criteria | Exceeds Expectations | Meets Expectations | Partially Meets Expectations | Does Not Meet Expectations | Value |
|---|---|---|---|---|---|
| Regression Equation | N/A | Provides the regression equation for the line of best fit (100%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include an inaccurate equation (55%) | Does not attempt criterion (0%) | 10 |
| Determine r | Exceeds expectations in an exceptionally clear manner (100%) | Describes the direction, strength of correlation, and association between the variables (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include missing one or more of the following: direction, strength of correlation, or association between the variables (55%) | Does not attempt criterion (0%) | 20 |
| Examine the Slope and Intercept | Exceeds expectations in an exceptionally clear manner (100%) | Draws conclusions from the slope and intercept in context, determines the value of only the land (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include missing one or more of the following: conclusions from the slope and intercept in context, predictions, or the value of only the land (55%) | Does not attempt criterion (0%) | 20 |
| Determine the R-squared Coefficient | Exceeds expectations in an exceptionally clear manner (100%) | Determines the R-squared coefficient and explains it in context (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include an inaccurate determination of the R-squared coefficient or an explanation that is out of context (55%) | Does not attempt criterion (0%) | 20 |
| Conclusions: Reflect on the Relationship | Exceeds expectations in an exceptionally clear, insightful, or sophisticated manner (100%) | Reflects on the relationship between square feet and sales price (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include a reflection on the relationship between variables that is missing components (55%) | Does not attempt criterion (0%) | 20 |
| Clear Communication | Exceeds expectations with an intentional use of language that promotes a thorough understanding (100%) | Consistently and effectively communicates in an organized way to a specific audience (85%) | Shows progress toward meeting expectations, but communication is inconsistent or ineffective in a way that negatively impacts understanding (55%) | Shows no evidence of consistent, effective, or organized communication (0%) | 10 |
| Total: | 100% | ||||