Question

The data represent the square footage and selling price in thousands of dollars for a random...

The data represent the square footage and selling price in thousands of dollars for a random sample of home Square Footage, x Selling Price ($000s),

Determine the linear correlation between square footage and asking price? round to three decimals

Square Footage, x   Selling Price ($000s), y
2171   374.9
3131   366.8
1156   194.3
1892   325.1
3221   639.6
2835   380.4
3923   598
2221   378.7
2694   438.3
1752   305
1875   285.1
3975   714.8

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Sum of X = 30846
Sum of Y = 5001
Mean X = 2570.5
Mean Y = 416.75
Sum of squares (SSX) = 8520985
Sum of products (SP) = 1363653.2

Regression Equation = ŷ = bX + a

b = SP/SSX = 1363653.2/8520985 = 0.160

a = MY - bMX = 416.75 - (0.16*2570.5) = 5.381

ŷ = 0.160X + 5.381

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
One of the biggest factors in determining the value of a home is the square footage....
One of the biggest factors in determining the value of a home is the square footage. The accompanying data represent the square footage and selling price​ (in thousands of​ dollars) for a random sample of homes for sale in a certain region. Complete parts​ (a) through​ (h) below. Square Footage, x   Selling Price ($000s), y 2138   369.6 3278   389.4 1168   196.1 1973   337.8 3185   633 2860   384.9 4046   617.3 2130   364.4 2492   406.7 1679   293.4 1826   277.1 3820   691.5 ​(a)...
One of the biggest factors in determining the value of a home is the square footage....
One of the biggest factors in determining the value of a home is the square footage. The accompanying data represent the square footage and selling price​ (in thousands of​ dollars) for a random sample of homes for sale in a certain region. Complete parts​ (a) through​ (h) below. Square​ Footage, x Selling Price​ ($000s), y 2133 369 3052 355.1 1074 181.5 1968 336.9 3062 614.2 2852 382.3 4292 655.7 2186 373.2 2496 407.4 1718 299.8 1718 260.1 3739 679 a)...
Find the​ least-squares regression line treating square footage as the explanatory variable. Square Footage, x Selling...
Find the​ least-squares regression line treating square footage as the explanatory variable. Square Footage, x Selling Price ($000s), y 2209 - 380.7 3323 - 396 1105 - 186.3 1953 - 334.5 3225 - 639.7 2741 - 365.7 3987 - 608 2147 - 367 2536 - 413.6 1632 - 286.2 1749 - 265.3 3882 - 700.2
The following table shows the selling​ prices, in thousands of​ dollars, and the square footages of...
The following table shows the selling​ prices, in thousands of​ dollars, and the square footages of five randomly selected houses recently sold by a real estate company. The data have a sample correlation​ coefficient, rounded to three decimal​ places, of 0.618. Using alpha=0.01 and the data given​ below, test the significance of the population correlation coefficient between a​ house's selling price and its square footage. What conclusions can you​ draw? Selling Price: $255 $193 $255 $160 $247 Sqaure Foot: 2769...
The following tables shows the selling prices, in thousands of dollars, and the square footages of...
The following tables shows the selling prices, in thousands of dollars, and the square footages of seven randomly selected homes recently sold by Century 21 Realtors: Price: 258 191 253 168 249 245 282 Sq. Ft: 2730 1860 2140 2180 2310 2450 2920 Using XLS, calculate the correlation coefficient for this sample. Using a significance of .1, test the significance of the population correlation coefficient between a house’s selling price and its square footage. What conclusions can you draw?
4. The following data represent the square footage of 10 three-bedroom condos for sale in Hilton...
4. The following data represent the square footage of 10 three-bedroom condos for sale in Hilton Head, South Carolina. 1,559 1,625 1,167 1,264 1,676 1,300 2,058 1,126 1,858 1,321 Determine Q1, Q3, IQR, Upper Limit, Lower Limit for this sample. Are there any outliers in this data set? Draw by hand the modified boxplot (see page 142 of the textbook).
The following data refers to the ages (in years) and prices (in thousands of dollars) of...
The following data refers to the ages (in years) and prices (in thousands of dollars) of a random sample of 10 cars. age x (in years) 5 9 16 2 3 2 3 16 8 10 price y (in $000's) 10 19 10 45 45 55 34 12 15 12 where x is the age of the car (in years) and y is the selling price (in thousands of dollars). The 95% confidence interval for the average price of a...
1. Listed below are sizes (in thousands of square feet) and revenue (in millions of dollars)...
1. Listed below are sizes (in thousands of square feet) and revenue (in millions of dollars) from casinos in Atlantic City. SIZE (x) 180 227 140 144 161 147 141 REVENUE (y) 150 157 140 127 123 106 101 a) SKETCH THE SCATTERPLOT b) DOES IT APPEAR TO BE POSITIVE OR NEGATIVE? c) DOES IT APPEAR TO BE WEAK, MODERATE, OR STRONG ? d) FIND THE LINEAR CORRELATION COEFFICIENT r e) FIND r2 AND INTERPRET f) FIND THE LINEAR REGRESSION...
Data were collected on the age (in years) and price (in thousands of dollars) of a...
Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Honda Civic. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided: Pearson correlation of the age (in years) and price (in thousands of dollars) = ? P-Value =? The regression equation is Price = 15.3 - 1.71 Age Predictor Coef SE Coef T P Constant 15.2912 0.5840 Age -1.7126 0.1264 S...
Data were collected on the age (in years) and price (in thousands of dollars) of a...
Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Honda Civic. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided: Pearson correlation of the age (in years) and price (in thousands of dollars) = ? P-Value =? The regression equation is Price = 15.3 - 1.71 Age Predictor Coef SE Coef T P Constant 15.2912 0.5840 Age -1.7126 0.1264 S...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT