Housing Statistics Essay Example for Free

Housing Statistics Essay The regression line is also known as the best fit line for the given data. The data points may not form a straight line. The line that best fits or best describes the relationship of the given dependent and independent variables is the line that would have the minimum perpendicular distance from the given data points. This line is used to analyze the relationship of the different variables given. It can also be used to predict or estimate other data points. In this paper, the regression line of the given data will be computed using a given tool from a certain website. The data will be analyzed to help in the decision making of the owner of the construction business. With the information given above, there is no question that the number of housing starts increases as the interest rate goes down. With the predictions of financial experts that mortgage rates will continue to dip in the next coming years, the housing construction business should be prepared in the possible increase in demands. Being the owner of a housing construction business, effective project planning should be in place. The employees should be prepared with the possible increase in the demand of housing construction projects as the interest rates continue to go down. A plan should be in place covering how to approach the possible increase in demands. Risks and uncertainties should also be identified as early as possible and there should be a detailed work breakdown structure to get ready for the coming projects. The plan should also encompass all aspects of the construction business from the materials procurement, subcontractors to employees who will be working on the projects. It should also include plans for the next coming years as the trend will probably continue as forecasted by financial experts. The data given should be used to forecast demands as accurate as possible. Using the data in the forecast, accurate measures can be implemented in terms of working with subcontractors and where to source materials. Decisions to be made with regard to projects will depend a lot on the data being forecasted by experts. Reference Ramat-Gan. (2003, June 30). Interest Rate Plunge Will Continue. Lecture Notes. Waner, S. Costenoble, S. (1999). Simple Regression. Retrieved August 2, 2006 from http://people. hofstra. edu/faculty/Stefan_Waner/newgraph/regressionframes. html