L4.4 Real Estate Example

R

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Nov 17, 2020, 12:31:35 PM11/17/20

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In the real estate example, why isn’t “price” the explanatory variable and “home size” the response variable?

What would make the above incorrect? I mean, couldn’t both ways be correct?

R

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Nov 17, 2020, 12:38:19 PM11/17/20

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Is it because of the way the question is phrased? Had it been phrased differently, would the variables have reversed?

Vijender Singh

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Nov 17, 2020, 12:52:37 PM11/17/20

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It may work both ways. However mostly price of the house depends on its Size ( or other factors...like location etc...). So, having Size as explanatory variable make bit more sense then otherwise. IMO.

Regards,

Vijender

ayesha gupta

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Nov 17, 2020, 3:36:38 PM11/17/20

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there are times, when the same size houses are available in different ranges

for eg, there is a possibility that a lig(small sized houses) being in posh locality is prized higher than a big size house situated near countryside.

Statistics 1 Support 1

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Nov 18, 2020, 4:34:39 AM11/18/20

to Discussion forum for Statistics for Data Science I, ayesha gupta, Vijender Singh, R

Hello,

In the example given in lecture 4.4, we are interested in knowing the price of the house depending on the sizes of the house. That is why, we are considering size of the house as explanatory while the price of the house as response variable.

Thanks

Nikita

Statistics content support team

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