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Exp22_Excel_Ch08_CumulativeAssessment_Variation – Real Estate Valuation
Exp22 Excel Ch08 CumulativeAssessment Variation Real Estate Valuation
Excel Chapter 8 Cumulative Assessment – Variation Real Estate Valuation
You are an analyst for a local real estate agency. As part of your duties, you track sales and use historical data to help determine home value based on square footage. You have decided to use analysis tools in Excel to calculate descriptive statistics and correlation between square footage and real estate sales data. Last you will forecast home values based on historical sales data.
Start Excel. Download and open the file named Exp22_Excel_Ch08_CumulativeAssessment_Variation_Valuation.xlsx. Grader has automatically added your last name to the beginning of the filename.
Ensure the Sales Data worksheet is active, then use the FREQUENCY function to calculate the frequency distribution of the square footage of homes located in column D. Place your results in the range H4:H11.
Enter a function in cell J4 to calculate the standard deviation of the current home values (column E).
Enter a function in cell J7 to calculate the variance of the current home values (column E).
Enter a function in cell J10 to calculate the covariance between square footage (column C) and the current home values (column E).
Enter a function in cell J13 to calculate the correlation between square footage (column C) and the current home values (column E).
Apply Accounting Number format to cell J4.
Ensure the Analysis ToolPak add-in is active. Insert a histogram based on the square footage located in column C. Move the chart so the upper-left corner is in cell G15. Resize the chart so if fills the range G15:J28.
Make the Subdivisions worksheet active. Use the Analysis ToolPak to perform a single factor ANOVA including labels on the range C2:E45. Place the results starting in cell G4. Resize columns G:M as needed.
Create a forecast sheet that depicts increase in home valuation in the Gatewood subdivision based on square footage. Set the Forecast square footage to 3500 and place the results on a new worksheet named Gatewood Forecast. Resize and reposition the chart to fill the range G2:P22. (On a Mac, the Forecast Sheet feature is not available. Please insert a blank worksheet named Gatewood Forecast and advance to the next step).
Make the Forecast worksheet active and create a scatter plot chart that places the square footage on the X axis and the Purchase Price on the Y axis. Be sure to add an appropriate chart title.
Add a linear trendline to the chart that also shows the Equation and the R-squared value. Reposition the equation so it is in the upper-left corner of the plot area.
Enter a function in cell E3 to calculate the intercept of the linear trendline created in the prior step.
Enter a function in cell F3 to calculate the Slope of the linear trendline.
Enter a function in cell G3 to calculate the RSQ of the linear trendline.
Enter a function in cell H3 to calculate the standard error. Format the results as Currency.
Use the FORECAST.LINEAR function in cell F6 to forecast an appropriate value of a 4,500-square-foot home based on the historical data in columns B:C. Format the results as Currency.
Complete your analysis by adding formulas in the range G6:H6 to calculate the high and low thresholds of the forecast.
Save and close Exp22_Excel_Ch08_CumulativeAssessment_Variation_Valuation.xlsx. Exit Excel. Submit the file as directed.
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