Minitab in ACCT 605
Descriptive Statistics
Boxplot
Regression Analysis
Using the Minitab descriptive statistics table compares Square Feet, Bedrooms, Age, and Price between gated and non-gated properties. Gated properties are substantially larger (mean 3,746 sq ft vs. 1,974), have more bedrooms (4.6 vs. 3.2), are much newer (6.5 years vs. 29.4), and cost significantly more (mean $3,112,000 vs. $1,277,121). The output reports mean, standard error, standard deviation, minimum, quartiles, median, and maximum for each variable, giving a complete picture of how the two groups differ in distribution and spread.
Regression Analysis uses Price as a function of Square Feet, Bedrooms, Age, and Gated status. All four predictors are significant, the data shows each meaningfully contributes to predicting the price. The coefficients indicate that price increases by could be approximate $920 per additional square foot, $137,389 per additional bedroom, $14,321 per year of age, and $341,417 for gated properties. VIF values range from 4.15 to 16.35.
Within the regression output, we have the analysis of variance table tests whether the regression model as a whole does a good job predicting Price. The results show that the model is significant, meaning Square Feet, Bedrooms, Age, and Gated status together do explain price in a meaningful way, rather than by chance. Looking at each factor individually, Square Feet has a great impact on price, followed by Age and Gated status, while Bedrooms still matters but plays a smaller role. The ANOVA confirms that the model is reliable and that each of the four factors contributes to explaining why home prices vary.
Variance Analysis
Our boxplot displays the distribution of Square Feet across all properties. The median sits at approximately 2,300 square feet, with the interquartile range spanning about 1,700 to 3,200 square feet. It extends from about 1,000 to 5,000 square feet, with no extreme outliers visible. The visual confirms that most properties fall in the 1,700–3,200 sq ft range, with the data slightly skewed toward larger homes at the upper end.