Question
In: Statistics and Probability
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers to the property taxes owed by a homeowner (in $) and the size of the home (in square feet) in an affluent suburb 30 miles outside New York City.
|
Taxes |
Size |
|
21987 |
2352 |
|
17343 |
2362 |
|
18279 |
1776 |
|
15645 |
1118 |
|
43954 |
5712 |
|
33653 |
2592 |
|
15105 |
2134 |
|
16749 |
1905 |
|
18239 |
2024 |
|
16048 |
1389 |
|
15135 |
1381 |
|
36016 |
3028 |
|
31083 |
2771 |
|
42000 |
3374 |
|
14370 |
1556 |
|
38953 |
3971 |
|
25373 |
3934 |
|
22971 |
2321 |
|
16169 |
3557 |
|
29272 |
2878 |
a. Estimate the sample regression equation that enables us to predict property taxes on the basis of the size of the home. (Round your answers to 2 decimal places.)
TaxesˆTaxes^ = + Size.
b. Interpret the slope coefficient.
-
As Property Taxes increase by 1 dollar, the size of the house increases by 6.91 ft.
-
As Size increases by 1 square foot, the property taxes are predicted to increase by $6.91.
c. Predict the property taxes for a
1,200-square-foot home. (Round coefficient estimates to at
least 4 decimal places and final answer to 2 decimal
places.)
TaxesˆTaxes^
Solutions
orchestra answered 3 years agoRelated Solutions
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers
to the property taxes owed by a homeowner (in $) and the size of
the home (in square feet) in an affluent suburb 30 miles outside
New York City.
Taxes
Size
21972
2330
17347
2427
18263
1873
15636
1098
43971
5639
33623
2429
15188
2332
16750
1898
18236
2108
16089
1245
15126
1227
36053
3027
31050
2814
42032
3329
14362
1635
38961
4074
25312
4016
22960
2470
16162...
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers
to the property taxes owed by a homeowner (in $) and the size of
the home (in square feet) in an affluent suburb 30 miles outside
New York City.
Taxes
Size
21913
2357
17307
2531
18258
1906
15606
1061
43962
5639
33679
2520
15197
2165
16733
1825
18211
2139
16061
1268
15194
1261
36018
3060
31036
2869
42098
3448
14377
1574
38934
3919
25341
3949
22969
2514
16241...
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers
to the property taxes owed by a homeowner (in $) and the size of
the home (in square feet) in an affluent suburb 30 miles outside
New York City.
Taxes
Size
21928
2438
17356
2455
18214
1871
15652
1063
43957
5715
33631
2567
15131
2260
16698
1824
18277
2010
16038
1438
15198
1337
36089
3049
31008
2843
42044
3411
14414
1454
38940
4057
25329
3939
22907
2505
16152...
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers
to the property taxes owed by a homeowner (in $) and the size of
the home (in square feet) in an affluent suburb 30 miles outside
New York City.
Taxes
Size
21922
2446
17362
2521
18285
1732
15662
1039
43973
5633
33629
2523
15195
2163
16693
1938
18247
2061
16036
1267
15163
1306
36002
3034
31043
2880
42063
3376
14432
1491
38914
3943
25383
3930
22991
2390
16236...
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers
to the property taxes owed by a homeowner (in $) and the size of
the home (in square feet) in an affluent suburb 30 miles outside
New York City.
Taxes
Size
21922
2446
17362
2521
18285
1732
15662
1039
43973
5633
33629
2523
15195
2163
16693
1938
18247
2061
16036
1267
15163
1306
36002
3034
31043
2880
42063
3376
14432
1491
38914
3943
25383
3930
22991
2390
16236...
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers
to the property taxes owed by a homeowner (in $) and the size of
the home (in square feet) in an affluent suburb 30 miles outside
New York City.
a. Estimate the sample regression equation that
enables us to predict property taxes on the basis of the size of
the home. (Round your answers to 2 decimal
places.)
Taxes= [ ] + [ ]Size
c. Predict the property...
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers
to the property taxes owed by a homeowner (in $) and the size of
the home (in square feet) in an affluent suburb 30 miles outside
New York City.
Taxes
Size
21934
2345
17334
2434
18262
1903
15646
1103
43973
5739
33660
2572
15119
2374
16702
1828
18230
2017
16038
1338
15140
1246
36030
3042
31034
2849
42077
3447
14364
1451
38925
3953
25378
3951
22956
2523
16216...
The accompanying table shows a portion of a data set that refers to the property taxes...
The accompanying table shows a portion of a data set that refers
to the property taxes owed by a homeowner (in $) and the size of
the home (in square feet) in an affluent suburb 30 miles outside
New York City.
21918
2359
17318
2340
18284
1936
15624
1094
43998
5664
33670
2577
15158
2139
16691
1856
18278
2052
16070
1357
15181
1222
36077
3110
31037
2782
42061
3446
14365
1524
38971
3976
25313
4014
22984
2332
16210
3586
29229...
16. The accompanying table shows a portion of a data set that refers to the property...
16. The accompanying table shows a portion of a data set that
refers to the property taxes owed by a homeowner (in $) and the
size of the home (in square feet) in an affluent suburb 30 miles
outside New York City.
Taxes
Size
21,972
2,330
17,347
2,427
⋮
⋮
29,264
2,879
a. Estimate the sample regression equation that
enables us to predict property taxes on the basis of the size of
the home. (Round your answers to 2 decimal...
7. The accompanying table shows a portion of a data set that refers to the property...
7. The accompanying table shows a portion of a data set that
refers to the property taxes owed by a homeowner (in $) and the
size of the home (in square feet) in an affluent suburb 30 miles
outside New York City.
Taxes
Size
21,998
2,317
17,350
2,347
⋮
⋮
29,245
2,892
a. Estimate the sample regression equation that
enables us to predict property taxes on the basis of the size of
the home. (Round your answers to 2 decimal...
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