Question
In: Statistics and Probability
The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared...
The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper.
| Property | Sale Price (millions of dollars) |
Size (thousands of sq. ft.) |
Land-to- Building Ratio |
| 1 | 10.6 | 2165 | 2.1 |
| 2 | 2.5 | 751 | 3.5 |
| 3 | 30.6 | 2421 | 3.6 |
| 4 | 1.9 | 223 | 4.8 |
| 5 | 20.0 | 3916 | 1.8 |
| 6 | 8.0 | 2865 | 2.3 |
| 7 | 10.1 | 1698 | 3.1 |
| 8 | 6.8 | 1045 | 4.7 |
| 9 | 5.9 | 1109 | 7.6 |
| 10 | 4.5 | 406 | 17.2 |
(a) Calculate the value of the correlation coefficient between
sale price and size. (Give the answer to three decimal
places.)
r =
(b) Calculate the value of the correlation coefficient between sale
price and land-to-building ratio. (Give the answer to three decimal
places.)
r =
(c) If you wanted to predict sale price and you could use either
size or land-to-building ratio as the basis for making predictions,
which would you use?
SizeLand-to-building ratio
(d) Based on your choice in Part (c), find the equation of the
least-squares regression line you would use for predicting
y = sale price. (Give answers to three decimal
places.)
= + x
Solutions
orchestra answered 1 year agoRelated Solutions
The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared...
The following data on sale price, size, and land-to-building
ratio for 10 large industrial properties appeared in a paper.
Property
Sale Price
(millions
of dollars)
Size
(thousands
of sq. ft.)
Land-to-
Building
Ratio
1
10.5
2166
1.9
2
2.5
752
3.6
3
30.4
2422
3.7
4
1.7
223
4.8
5
20.0
3917
1.6
6
8.1
2867
2.3
7
10.1
1698
3.1
8
6.7
1046
4.7
9
5.8
1109
7.5
10
4.6
405
17.1
(a) Calculate the value of the correlation...
The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared...
The following data on sale price, size, and land-to-building
ratio for 10 large industrial properties appeared in a paper.
Property
Sale Price
(millions
of dollars)
Size
(thousands
of sq. ft.)
Land-to-
Building
Ratio
1
10.6
2165
1.9
2
2.5
751
3.4
3
30.4
2421
3.7
4
1.8
225
4.8
5
20.0
3916
1.7
6
8.0
2865
2.3
7
10.0
1698
3.2
8
6.7
1046
4.9
9
5.7
1109
7.6
10
4.5
404
17.1
(a) Calculate the value of the correlation...
The published sale price of a small apartment building comparable sale was $245,000. The buyer had...
The published sale price of a small apartment building
comparable sale was $245,000. The buyer had mostly non-reported
income and could not qualify for a standard mortgage. He agreed to
purchase the property for $245,000 with the seller taking back a
purchase-money mortgage of $175,000 at 7 percent for 30 years with
monthly payments and a balloon payment in six years. The market
interest rate for a property like this at the time of sale was a 9
percent with...
Cooper and Dane exchanged properties with each other. Cooper exchanged a commercial building and land with...
Cooper and Dane exchanged properties with each other. Cooper
exchanged a commercial building and land with a basis of $200,000
and a fair market value of $320,000. The property exchanged by
Cooper was also subject to a $180,000 liability that was assumed by
Dane in the exchange. In addition to the liability assumption, Dane
gave Cooper a smaller commercial building in a different location.
That building had a fair market value of $250,000 and an adjusted
basis to Dane of...
Lot Price Data Lot Price is lot price in $1000s Lot Size is lot size in...
Lot Price Data
Lot Price is lot price in $1000s
Lot Size is lot size in 1000s of square feet
Mature Trees is the number of mature trees on the
property
Distance from Water is the distance from the edge
of property to the water in feet
Distance from Road is the distance from the main
road to the center of the property in miles
Lot Price
Lot Size
Mature Trees
Distance from Water
Distance from Road
105.4
41.2
24...
Alternative 1 Slowtwitch has identified a parcel of land that is for sale. The listing price...
Alternative 1
Slowtwitch has identified a parcel of land that is for sale. The
listing price is $400,000, but Slowtwitch's realtor is confident
the property can be acquired for $330,000. An architect has
provided Slowtwitch with plans to build a retail store on this site
at a cost of $1,000,000. An additional $320,000 would be required
to finish out the building with all of the equipment, furniture,
and fixtures necessary to meet Slowtwitch's demanding standards.
Slowtwitch's banker has agreed to...
The following data represent the asking price of a simple random sample of homes for sale....
The following data represent the asking price of a simple random
sample of homes for sale. Construct a 99% confidence interval with
and without the outlier included. Comment on the effect the outlier
has on the confidence interval.
$270,500 , $143,000 , $459,900 , $208,500 , $279,900 , $205,800
, $283,900 , $147,800 , $219,900 , $248,900 , $187,500 ,
$264,900
What are the properties of ratio level data and what can we do with it that...
What are the properties of ratio level data and what can we do
with it that we cannot do with other levels of measurement?
IBM acquired land and a building for a purchase price of $2,290,000. Before purchasing, they paid...
IBM acquired land and a building for a purchase price of
$2,290,000. Before purchasing, they paid $30,000 for an appraisal
that determined the fair value of the land as $756,000 and the
building as $1,944,000. Additionally, IBM incurred a closing cost
of $180,000 to complete the transfer. Two days after completion of
the transfer, the building had a leak that required $75,000 worth
of damage to be repaired.
What is the acquisition cost that would be capitalized,
individually, to the...
The following are advertised sale prices of color televisions at an electronics store. Size (inches) Sale...
The following are advertised sale prices of color televisions at
an electronics store.
Size (inches)
Sale Price ($)
9
147
20
187
27
267
31
447
35
1177
40
2177
60
2497
Calculate the least squares line. Put the equation in the form
of:
ŷ = a + bx
Find the correlation coefficient r.
Find the estimated sale price for a 33-inch television. (Use
your equation from part (d). Round your answer to two decimal
places.)
$
Find the estimated...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- JAVASCRIPT: Please create an array of student names and another array of student grades. - Create...
- Topic - Construction: Structural, loads, tension 1.) Explain why pure tension members are the most efficient...
- Procter and Gamble (PG) paid an annual dividend of $ 1.62$1.62 in 2009. You expect PG...
- locate a recent case of online child pornography. Write a summary of the incident and describe...
- #Python 5. Write function called evaluate() that evaluates the following Python expressions or assignments as specified:...
- Suggest journal, research paper link reference. i need this as reference for writing a research with...
- Cryptography is used heavily in internet communications. True or false? Explain
ADVERTISEMENT