A real estate major collected information on some recent localhome sales. The first 6 lines of the database appear below. Thecolumns correspond to the house identification number, thecommunity name, the ZIP code, the number of acres of the property,the year the house was built, the market value, and the size of theliving area (in square feet).
House_ID | Neighborhood | Mail_ZIP | Acres | Yr_Built | Full_Market_Value | Size |
41340053 | Greenfield Manor | 12859 | 1.00 | 1967 | $1,00,400 | 960 |
4128001474 | Fort Amherst | 12801 | .009 | 1961 | $1,32,500 | 90 |
412800344 | Dublin | 12309 | 1.65 | 1993 | $1,40,000 | 1620 |
4128001552 | Granite Springs | 10598 | 0.33 | 1969 | $67,100 | 900 |
412800352 | Arcady | 10562 | 2.29 | 1955 | $1,90,000 | 1224 |
413400322 | Ornsbee | 12859 | 9.13 | 1997 | $1,26,900 | 1056 |
For the real estate data of Exercise 1, do the dataappear to have come from a designed survey or experiment? Whatconcerns might you have about drawing conclusions from this dataset?
