Ref 3 Pre-Reflection Exercise Download the Competency 3 Reflection Data Set (attached). The data set is information about the tax assessment value assigned

Ref 3

Pre-Reflection Exercise

Download the Competency 3 Reflection Data Set (attached). The data set is information about the tax assessment value assigned to medical office buildings in a city. The following is a list of the variables in the database:

  • Floor Area: square feet of floor space
  • Offices: number of offices in the building
  • Entrances: number of customer entrances
  • Age: age of the building (years)
  • Assessed Value: tax assessment value (thousands of dollars)

As you work through the following exercises, note your answers to the given questions so you can easily summarize them in your reflection.

Use the data set to construct a model that predicts the tax assessment value assigned to medical office buildings with specific characteristics.

1. Construct a scatter plot in Excel with Floor Area as the independent variable and Assessment Value as the dependent variable. Insert the bivariate linear regression equation and R2 in your graph. 

  • Do you observe a linear relationship between the 2 variables?

2. Use Excels Analysis ToolPak to conduct a regression analysis of Floor Area and Assessment Value. 

  • Is Floor Area a significant predictor of Assessment Value?

3. Construct a scatter plot in Excel with Age as the independent variable and Assessment Value as the dependent variable. Insert the bivariate linear regression equation and R2 in your graph. 

  • Do you observe a linear relationship between the 2 variables?

4. Use Excels Analysis ToolPak to conduct a regression analysis of Age and Assessment Value. 

  • Is Age a significant predictor of Assessment Value?

Construct a multiple regression model.

  • Use Excels Analysis ToolPak to conduct a regression analysis with Assessment Value as the dependent variable and Floor Area, Offices, Entrances, and Age as independent variables.
  • What is the overall fit R2? What is the adjusted R2?
  • Which predictors are considered significant if we work with α=0.05? Which predictors can be eliminated?
  • What is the final model if we only use Floor Area and Offices as predictors?
  • Suppose our final model is: Assessed Value = 115.9 + 0.26 x Floor Area + 78.34 x Offices.
  • What would be the assessed value of a medical office building with a floor area of 3500 sq. ft., 2 offices, that was built 15 years ago?
  • Is this assessed value consistent with what appears in the database?

Reflection

In a minimum of 500 words, reflect on the types of medical offices you would advise management to close and open, and why. Use your exercise notes to support your rationale. 

Submit your reflection and the Excel spreadsheet with your calculations and work.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

21:26 VPN BUSA 6170 Course Project Overall Guidelines.docx Phoenix Files X Students will utilize course learning objectives in creating a compediensive MS

21:26 VPN BUSA 6170 Course Project Overall Guidelines.docx Phoenix Files X Students will utilize course learning objectives in creating a compediensive MS Word document explaining concepts, derailing calculations, and discussing recommended decisions based on their analysis of the provided data set. Ne dint quotes are accept able. Mi submitted documents

Competencies In this project, you will demonstrate your mastery of the following competencies: Interpret psychological data using quantitative and

Competencies In this project, you will demonstrate your mastery of the following competencies: Interpret psychological data using quantitative and qualitative methods Apply the principles of statistical methods to inform a research problem Scenario You work for a market research company that supplies information to non-profit organizations throughout the nation. Your

Reflection Consider the following: How is data analytics different from statistics? What are the main differences between descriptive, predictive, and

Reflection Consider the following: How is data analytics different from statistics? What are the main differences between descriptive, predictive, and prescriptive analytics tools? How do businesses use analytics to convert raw operational data into actionable information? Reflect on the following in a minimum of 500 words. Think about the organization

Assignment Content ADDED sample assignment with correct formatting. 7/22/2024 Research tips and strategies for effective written and oral

Assignment Content ADDED sample assignment with correct formatting. 7/22/2024 Research tips and strategies for effective written and oral communication. Begin by searching the University Library, but feel free to search elsewhere as well. Your search may include articles, journals or publications, websites, or other online media.  I will practice these under the

Case Problem 4. Workforce Scheduling Davis Instruments has two manufacturing plants located in Atlanta, Georgia. Product demand varies considerably from

Case Problem 4. Workforce Scheduling Davis Instruments has two manufacturing plants located in Atlanta, Georgia. Product demand varies considerably from month to month, causing Davis extreme difficulty in workforce scheduling. Recently Davis started hiring temporary workers supplied by WorkForce Unlimited, a company that specializes in providing temporary employees for firms