Las Cruces: Regression Analysis
History In the late 1500’s, Spanish explorers, led by Don Juan Onate, founded the first settlements near the Rio Grande (Las-Cruces.org). Explorers created a road that ran from Mexico City to Santa Fe that was named El Camino Real, Royal Road, in their desire to find treasure in the legendary Seven Ancient cities of gold (City-Data.com, 2009). Spanish conquerors ruled the area until the late 1700’s, when the Pueblo Indians gained control over their territory. In the year 1821, the Republic of Mexico was created following the Mexican revolution. Years later, the United States claimed this territory as part of the country with the treaty of Guadalupe Hidalgo in 1848 and the Gadsden purchase in 1854 (City-Data.com, 2009). The city of Las Cruces,
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My value ranges for the homes were from $200,000 to $400,000 as seen in Appendix A
The R Square, or the coefficient of determination for all fifty samples came back to be at .4747, which means that only 47.47% of the data I have gathered is accurate as listed in Appendix A. I have gone back and checked many of the listings to see if perhaps there was a clerical error but I could not see …show more content…
The square footage is set to be $59.72, this number seems be fine to me because I just recently purchased a home and noticed that square footage is a lot more expensive here in El Paso, Texas. The coefficient for an addition of a bedroom came back to a negative number of -2694.15. Bedroom is not significant and the addition will not impact the price of a home. This could be related to the area size or lot size. My coefficient for bathrooms came out favorable with a value of $10,768.29. This tells me that an addition of a restroom to a home will have a favorable impact. Coefficient for Garage also came out favorable with a value of $13349.97.This tells me that adding an extra garage to the home it will have a favorable impact. I did notice that some of the homes in Las Cruces had a lot of land space and only left with 2 garages. My last coefficient is Fireplace, number for this came back at $29374.10. The addition of a fireplace will certainly bring the value higher. This coefficient seemed to be the most favorable since the addition of a fireplace is not as costly as adding a fireplace or another bedroom and profit will be
My value ranges for the homes were from $200,000 to $400,000 as seen in Appendix A
The R Square, or the coefficient of determination for all fifty samples came back to be at .4747, which means that only 47.47% of the data I have gathered is accurate as listed in Appendix A. I have gone back and checked many of the listings to see if perhaps there was a clerical error but I could not see …show more content…
The square footage is set to be $59.72, this number seems be fine to me because I just recently purchased a home and noticed that square footage is a lot more expensive here in El Paso, Texas. The coefficient for an addition of a bedroom came back to a negative number of -2694.15. Bedroom is not significant and the addition will not impact the price of a home. This could be related to the area size or lot size. My coefficient for bathrooms came out favorable with a value of $10,768.29. This tells me that an addition of a restroom to a home will have a favorable impact. Coefficient for Garage also came out favorable with a value of $13349.97.This tells me that adding an extra garage to the home it will have a favorable impact. I did notice that some of the homes in Las Cruces had a lot of land space and only left with 2 garages. My last coefficient is Fireplace, number for this came back at $29374.10. The addition of a fireplace will certainly bring the value higher. This coefficient seemed to be the most favorable since the addition of a fireplace is not as costly as adding a fireplace or another bedroom and profit will be