Linear Regression

[Gregory Beck]

I just downloaded a software package that goes with Excel It's the free trial version called "analyze it" It sets up all kinds of statistics one of them
being a linear regression module. I'm not sure which variables to pick I'm thinking sale price and date sold when I throw in those 2 variables I see a linear regression analysis but I'm so new at this It's tough to understand.
Can anyone give me any pointers on how to set up this analyze it thing to do a linear regression. Does any one else have analyze it?
Thanks
Greg Beck

 

[Zero]

It's great to hear more people trying to incorporate more objective data analysis. However, this is probably not really something that can be taught in a chat room. I'd recommend buying a statistics book that explain analysis of variance and regression. Or take a class. It will truly impact the way you look at data!

Good luck.

 

[Metamorphic]

I just downloaded a software package that goes with Excel It's the free trial version called "analyze it" It sets up all kinds of statistics one of them
being a linear regression module. I'm not sure which variables to pick I'm thinking sale price and date sold when I throw in those 2 variables I see a linear regression analysis but I'm so new at this It's tough to understand.
Can anyone give me any pointers on how to set up this analyze it thing to do a linear regression. Does any one else have analyze it?
Thanks
Greg Beck

I don't know that you need a special software package to do linear regression in excel. Excel will already fit liner curves to your data along with several other types of curves.

Plotting sale price (or sale price per sf of GLA) against date is a common way of getting at market decline. You can also plot DOM against sale date. You could plot $/sf against tract A vs tract b over time to get an idea of how values in the tracts compare.

Anytime you have a data set graphed in excell you can simply right click on the data and select trendline to fit a liner curve.

 

[Doug Wegener]

Post it

I just downloaded a software package that goes with Excel It's the free trial version called "analyze it" It sets up all kinds of statistics one of them
being a linear regression module. I'm not sure which variables to pick I'm thinking sale price and date sold when I throw in those 2 variables I see a linear regression analysis but I'm so new at this It's tough to understand.
Can anyone give me any pointers on how to set up this analyze it thing to do a linear regression. Does any one else have analyze it?
Thanks
Greg Beck

Post it here. BTW, Gnumeric is free and does regressions.

 

[Doug Wegener]

excel

I don't know that you need a special software package to do linear regression in excel. Excel will already fit liner curves to your data along with several other types of curves.

Plotting sale price (or sale price per sf of GLA) against date is a common way of getting at market decline. You can also plot DOM against sale date. You could plot $/sf against tract A vs tract b over time to get an idea of how values in the tracts compare.

Anytime you have a data set graphed in excell you can simply right click on the data and select trendline to fit a liner curve.

It does but you have to install the analysis pak installed and will need the disk. I lost mine.

 

[Fred]

I'm not sure which variables to pick

How have you been picking them up to now?

This is something you should plan to spend a lot of time studying before it would yield benefits.

 

[ZZGAMAZZ]

"Picking variables" sounds like something oxymoronic that Chauncey Gardiner would be prone to do...

 

[Mike Phillips]

I just downloaded a software package that goes with Excel It's the free trial version called "analyze it" It sets up all kinds of statistics one of them
being a linear regression module. I'm not sure which variables to pick I'm thinking sale price and date sold when I throw in those 2 variables I see a linear regression analysis but I'm so new at this It's tough to understand.
Can anyone give me any pointers on how to set up this analyze it thing to do a linear regression. Does any one else have analyze it?
Thanks
Greg Beck

As someone said, this is not the place to discuss this. Barnes & Noble sells a book - Statistics DeMystified - inexpensive - a primer - all you need.

If you just want to play or test what you have, make your independent variable size of living area and your dependent variable sale price. You won't see much correlation between sale price and date sold, or sale price and year built if your subject is typical residential.

Don't know your background so don't get upset with my basic explanation but what you are trying to determine is the relationship between sale price and SFLA. Sale price depends on what? I suggested you try SFLA. You would expect sale price to increase as SFLA increases - the reverse is also true. Correlation is a measure of the strength of relationship between the two variables. How much of the change in sale price is due to larger or smaller SFLA?

The book I mentioned above is not a quick read but if you are serious about using statistics in your work you should at least know the basics. If not that book try Statistics with Microfost Excel, Third Edition - it is actually the better book (try Amazon) and it is currently used at college level. None of the typical Excel books teach Stat very well.

Good luck.

 

[OSU Beavers]

http://phoenix.phys.clemson.edu/tutorials/excel/regression.html

http://www.youtube.com/watch?v=_Rm8W-c6Xko

 

[c w d]

Software is great. Typically, unless one knows how to do the calculations such software is mostly useless. What you need is the fundamental knowledge. Once you have that you're good to go. Visit your local library and pick up a statistics book. After you've read that a couple of times you should be ready to utilize the software.