Cyton Real Estate Properties, is a real estate firm in Kenya. The company, which advertises itself as “expertin the real estate market,” monitors apartments sales by collecting data on location, list price, sale price,and number of days it takes to sell each unit. Each apartment is classified as Blue Apartment if it is locatedNairobi Metropolitan or Red Apartment if it is located anywhere else. Sample data from the MultipleListing Service in Kenya, provided recent sales data for 40 Blue apartments and 18 No Red apartments.Prices are in thousands of Kenya shillings. The data are shown in Table 1.0.Table 1.0: List Price, Sale Price and Days to Sell ApartmentsBlue Apartments Red ApartmentsList Price Sale Price Days to Sell List Price Sale Price Days to Sell1 495.0 475.0 130 217.0 217.0 1822 379.0 350.0 71 148.0 135.5 3383 529.0 519.0 85 186.5 179.0 1224 552.5 534.5 95 239.0 230.0 1505 334.9 334.9 119 279.0 267.5 1696 550.0 505.0 92 215.0 214.0 587 169.9 165.0 197 279.0 259.0 1108 210.0 210.0 56 179.9 176.5 1309 975.0 945.0 73 149.9 144.9 14910 314.0 314.0 126 235.0 230.0 11411 315.0 305.0 88 199.8 179.0 12012 885.0 800.0 282 210.0 192.0 6113 975.0 975.0 100 226.0 195.0 14614 329.0 445.0 56 149.9 212.0 13715 365.0 305.0 49 160.0 146.5 28116 332.0 330.0 48 322.0 160.0 6317 520.0 312.0 88 187.5 292.5 4818 425.0 495.0 161 247.0 179.0 5219 675.0 405.0 14920 409.0 669.0 142

Use appropriate descriptive statistics to summarize each of the three variables for the 40 BLUEApartments. (2 marks)2. Use appropriate descriptive statistics to summarize each of the three variables for the 18 REDApartments (2 Marks)3. Compare your summary results. Discuss any specific statistical results that would help a real estateagent understand the apartment market in Kenya. (4 Marks)4. Develop a 95% confidence interval estimate of the population mean sales price and populationmean number of days to sell for BLUE Apartments. Interpret your results. (2 Marks)

If you want to predict the price of an apartment, which of the following ML techniques you may consider?

Write an algorithm for predicting house prices based on features like size, location,and number of bedrooms

The asking prices of properties for sale in Malaysia will continue to rise as existing homeowners raise their selling prices.However, the concern is that there is lower demand from buyers, creating a widening gap between them and sellers.The PropertyGuru Malaysia's Property Market Report Q1 2023 captured upward trends in the Sale Price Index, with asking prices on PropertyGuru listings increasing by 1.5 per cent quarter on quarter in the fourth quarter of 2022 (Q4 2022).For the whole of 2022, the asking prices went up by five per cent.Sheldon Fernandez, country manager, Malaysia (PropertyGuru.com.my and iProperty.com.my), said this likely comes on the back of the overnight policy rate rising to 2.75 per cent last year, contributing towards the higher overall cost of property ownership.In contrast, the Sale Demand Index saw a significant drop of 14.8 per cent quarter on quarter, reflecting how potential buyers may still be facing affordability issues or a lack of confidence in the current property prices on the market."While the property market has seen healthy activity throughout 2022, our recent reports have shown that Malaysians are now more careful when making big purchasing decisions. Rising inflation and higher borrowing costs have tightened potential buyers' budgets, simultaneously forcing sellers to raise their prices to cover the higher cost of property investments. This has created a phenomenon where the price gap between both parties has widened, further contributing to the housing affordability issue we've been tracking through the past year," he said.Fernandez said that homeowners are increasing housing prices to counter the higher overall cost of homeownership caused by the higher interest rate.As prices continue to rise, interest in Johor's real estate market is also on the upswing, he said.The Astaka @ 1 Bukit Senyum topped the condominium category with 8,784 views on the PropertyGuru website, while Leisure Farm took the top spot for landed properties."This is likely due to the projects' advantageous locations, which are strategically located with competitive property prices," he said.In the central region, Cheras and Bandar Tasik Selatan registered the highest increase in interest.Fernandez said that potential buyers have also set their sights toward the outer areas of Klang Valley due to larger and more affordable housing options with access to the Light Rail Transit or expressways.He said this is consistent with the findings of PropertyGuru Malaysia's Consumer Sentiment Study for H1 2022, where the increase in a remote working arrangements in industries contributed to the preference for property outside the city."As the Malaysian economy is expected to expand by four to five per cent in 2023, the property market is likely to remain active with positive growth," Fernandez said.The Malaysian economy expanded by 8.7 per cent year on year in 2022, the highest annual growth recorded after 2000 (8.9 per cent year on year), according to the Ministry of Finance.The growth is paired with a downward unemployment rate trend, declining to 3.6 per cent in Q3 2022 from 4.2 per cent in Q1 2022.Fernandez said these positive shifts in the local economy eases the pressure on property players to sell, with most holding an optimistic view of the market in lieu of the appointment of the new government.Rental properties on an uptrendPotential purchasers turned away from the housing market as a result of escalating property values and moved towards the rental market as seen by the Rental Demand Index reaching 32.9 per cent in 2022.Fernandez said that the supply of rental listings on the PropertyGuru website also increased by 19.6 per cent, as landlords were jumping back into a rental market with positive demand, seeking alternative income sources to offset inflation.However, the Property Market Report registered ease in rental demand by four per cent quarter on quarter in Q4 2022, after consecutive increases in the previous quarters.He believes that the slight downturn in rental appetite may be due to the higher rental prices in the market, edging up to 2.8 per cent quarter on quarter at the end of last year."Despite this, the rental market is expected to remain active as the government recently waived industry quotas to speed up the hiring of foreign workers, who will bring in fresh demand for rental properties in industrial areas of Malaysia," he said

A home owner would like to sell his property that is 650sqm in size, with 3 bedrooms, 2 bathrooms and 1 car space. Her property is in the school zone, is not subdivided and is an older home. She intends to sell by private sale. Predict the price of this property.  Report your answer to 2 decimal places.