A lecturer wanted to analyze the relationship between land area (X, square metre) in the locality...

A lecturer wanted to analyze the relationship between land area (X, square metre) in the locality of a certain district in one of the state in Malaysia and the land price (Y, RM million), by using nine plots selected randomly. The following statistics were obtained. ∑ ? = 5233; ∑ ? 2 = 3120639;∑ ? = 14.9; ∑ ? 2 = 28.89; ∑ ?? = 9217.8 a) Find the equation of the least squares regression line relating the land area and land price.

Hence, explain the meaning of the slope obtain

b) Calculate the correlation coefficient and interpret the value obtained

Solutions

Expert Solution

a) Find the equation of the least squares regression line relating the land area and land price.

Hence, explain the meaning of the slope obtain (5 marks)

Meaning of slope

On average, each 1 increase in the land area was associated with a 0.0071 point change in the land price.

b) Calculate the correlation coefficient and interpret the value obtained (3 marks)

r=0.9662

Interpretation: The correlation coefficient r is used to know the relationship between two variables and r=0.9662 implies there is a strong positive correlation between the land area (X) and the land price (Y).

orchestra answered 1 year ago

Next > < Previous

Related Solutions

Estimate the area A between the graph of the function f(x)= square root of x and...

Estimate the area A between the graph of the function f(x)= square root of x and the interval [0,49]. Use an approximation scheme with n=2,5, and 10 rectangles. Use the right endpoints. Round your answers to three decimal places. A2= A5= A10= Click

A medical statistician wanted to examine the relationship between the amount of sunshine (x) and incidence...

A medical statistician wanted to examine the relationship between the amount of sunshine (x) and incidence of skin cancer (y). As an experiment he found the number of skin cancers detected per 100,000 of population and the average daily sunshine in eight counties around the country. These data are shown below. Average Daily Sunshine 5 7 6 7 8 6 4 3 Skin Cancer per 100,000 7 11 9 12 15 10 7 5 Find the least squares regression line....

A basketball coach wanted to see if there was a relationship between a team and their...

A basketball coach wanted to see if there was a relationship between a team and their training methods. 50 players were asked "Do you think practicing 5 times per week will help you win more games?" Below are each teams responses. Null hypothesis: A team and their training methods are independent. Alternative hypothesis: A team and their training methods are dependent. Perform hypothesis testing using the Chi-Square Test for Independence and interpret the results. Team Strongly Agree Agree Neutral Disagree...

A research wanted to see if there was a relationship between the median income for a...

A research wanted to see if there was a relationship between the median income for a city and how many IT companies are in the city.

What is the relationship between area and volume? Is it similar to calculating an area by...

What is the relationship between area and volume? Is it similar to calculating an area by slicing it into narrower and narrower lengths?

The following table gives the total area in square miles (land and water) of seven states....

The following table gives the total area in square miles (land and water) of seven states. Complete parts (a) through (c). State Area 1 52,300 2 615,400 3 115,000 4 53,200 5 159,300 6 104,500 7 6,400 b. Which state is an outlier on the high end? If you eliminate this state, what are the new mean and median areas for this data set? State 2 is an outlier on the high end. The new mean is 81783 square miles....

The following table gives the total area in square miles (land and water) of seven states....

The following table gives the total area in square miles (land and water) of seven states. Complete parts (a) through (c). State Area 1 52,300 2 615,400 3 115,000 4 53,600 5 159,500 6 104,800 7 6,100 a. Find the mean area and median area for these states. The mean is __ square miles. (Round to the nearest integer as needed.) The median is ___ square miles. b. Which state is an outlier on the high end? If you eliminate...

area between curves 1. Find the area between x=1 and x=3 for: f(x) = x+4 and...

area between curves 1. Find the area between x=1 and x=3 for: f(x) = x+4 and g(x)=1 2. Find the area between x =-1 and x=1 for: f(x) = 2-x^2 and g(x) =3 3. find the area between: f(x) = x^2 and g(x) = 2x+3 4. find the area between: f(x) = 4-x^2 and g(x) =3x

Is there any relationship between intercept and the r square, beta?

A marketing company for the Music Industry wanted to see if there was a relationship between...

A marketing company for the Music Industry wanted to see if there was a relationship between listening to music and ACT Scores. After polling if ACT takers for frequency of listening to music. They wanted to compare the ACT score of 269 frequent music listeners with the population mean for the ACT to see if there is a statistically significant difference. The ACT population mean is 21.51 with a standard deviation of 5.319. The 269 frequent music listeners had a...

Subjects