Question
In: Statistics and Probability
The data is the square footage and selling price of single-family homes for the month of...
The data is the square footage and selling price of single-family homes for the month of February and the first week of March.
| Square Footage | Selling Price |
| 1746 | 129320 |
| 1764 | 97000 |
| 676 | 35000 |
| 2788 | 400000 |
| 1944 | 68000 |
| 1960 | 117000 |
| 1056 | 148400 |
| 1564 | 35000 |
| 1100 | 165000 |
| 1120 | 114480 |
| 4080 | 175000 |
| 1442 | 65000 |
| 1937 | 60000 |
| 1900 | 18000 |
| 1150 | 258000 |
| 1650 | 134800 |
| 1953 | 30000 |
| 2424 | 69100 |
| 512 | 63000 |
| 1540 | 82500 |
| 1200 | 50000 |
| 1316 | 37500 |
| 1840 | 69000 |
| 3500 | 270000 |
| 5000 | 485000 |
| 1564 | 27000 |
| 1018 | 37000 |
| 2176 | 168000 |
| 1600 | 208500 |
| 1532 | 100700 |
| 1525 | 86000 |
| 2488 | 6500 |
| 1200 | 50001 |
| 1300 | 89000 |
- Make a scatter plot, including the regression line and its equation.
- Use an appropriate Excel function to find the correlation coefficient r. Determine the type of linear relationship, if any.
- Interpret the slope and y-intercept, if appropriate, in the context of the data.
- Use an appropriate Excel function and the data to find a predicted(average) selling price for a single- family house measuring 1960 square feet. Does the house that measured 1960 square feet in the sample have a selling price that is below or above average, and why?
Solutions
orchestra answered 1 year agoRelated Solutions
(House Selling Price) The data below show the selling price, square footage, bedrooms, and age of...
(House Selling Price) The data below show the selling price,
square footage, bedrooms, and age of houses that have sold in a
neighborhood in the last six months. Selling price Square footage
Bedrooms Age 64,000 1,670 2 30 59,000 1,339 2 25 61,500 1,712 3 30
79,000 1,840 3 40 87,500 2,300 3 18 92,500 2,234 3 30 95,000 2,311
3 19 113,000 2,377 3 7 115,000 2,736 4 10 138,000 2,500 3 1 142,500
2,500 4 3 144,000 2,479...
Determine the linear correlation coefficient between square footage and asking price. Square Footage, x Selling Price...
Determine the linear correlation coefficient between square
footage and asking price.
Square Footage, x Selling Price ($000s), y
2209 380.7
3323 396
1105 186.3
1953 334.5
3225 639.7
2741 365.7
3987 608
2147 367
2536 413.6
1632 286.2
1749 265.3
3882 700.2
r= ?
The following data gives the selling price, square footage, number of bedrooms, and the age of...
The following data gives the selling price, square footage,
number of bedrooms, and the age of a house in years. These houses
have been sold in a specific neighborhood over the last six
months.
Selling Price ($)
Square Footage
Bedrooms
Age (years)
84,000
1,670
2
30
79,000
1,339
2
25
91,500
1,712
3
30
120,000
1,840
3
40
127,500
2,300
3
18
132,500
2,234
3
30
145,000
2,311
3
19
164,000
2,377
3
7
155,000
2,736
4
10
168,000
2,500...
The following data give the selling price and square footage of houses that have sold in...
The following data give the selling
price and square footage of houses that have sold in Bend, OR in
the past 6 months.
Selling Price
($)
Square Footage
84,000
1,670
79,000
1,339
91,500
1,712
120,000
1,840
127,500
2,300
132,500
2,234
145,000
2,311
164,000
2,377
155,000
2,736
168,000
2,500
172,500
2,500
174,000
2,479
175,000
2,400
177,500
3,124
184,000
2,500
195,500
4,062
195,000
2,854
Graph the data to see whether a linear equation might describe
the relationship between selling price and the...
Suppose the following data were collected relating the selling price of a house to square footage...
Suppose the following data were collected relating the selling
price of a house to square footage and whether or not the house is
made out of brick. Use statistical software to find the regression
equation. Is there enough evidence to support the claim that on
average brick houses are more expensive than other types of houses
at the 0.050.05 level of significance? If yes, type the regression
equation in the spaces provided with answers rounded to two decimal
places. Else,...
2) The following data gives the selling price, square footage, number of bedrooms, and the age...
2) The following data gives the selling price, square footage,
number of bedrooms, and the age of a house in years. These houses
have been sold in a specific neighborhood over the last six
months.
Selling Price ($)
Square Footage
Bedrooms
Age (years)
84,000
1,670
2
30
79,000
1,339
2
25
91,500
1,712
3
30
120,000
1,840
3
40
127,500
2,300
3
18
132,500
2,234
3
30
145,000
2,311
3
19
164,000
2,377
3
7
155,000
2,736
4
10
168,000...
The following data give the selling price, square footage, number of bedrooms, and age of houses...
The following data give the selling price, square footage,
number of bedrooms, and age of houses that have sold in a
neighborhood in the past 6 months. Develop three regression models
to predict the selling price based upon each of the other factors
individually. Which of these is best? use 1 for yes and 0 for
no
develop a regression model to predict selling price based on the
square footage and number of bedrooms. Use this to predict the
selling...
2) The following data gives the selling price, square footage, number of bedrooms, and the age...
2) The following data gives the selling price, square footage,
number of bedrooms, and the age of a house in years. These houses
have been sold in a specific neighborhood over the last six
months.
Selling Price ($)
Square Footage
Bedrooms
Age (years)
84,000
1,670
2
30
79,000
1,339
2
25
91,500
1,712
3
30
120,000
1,840
3
40
127,500
2,300
3
18
132,500
2,234
3
30
145,000
2,311
3
19
164,000
2,377
3
7
155,000
2,736
4
10
168,000...
The following data gives the selling price, square footage, number of bedrooms, and age (in years)...
The following data gives the selling
price, square footage, number of bedrooms, and age (in years) of
condominiums that were sold in a neighborhood in the Bronx in the
past six months
Selling Price
Square Footage
No. of Bedrooms
Age of Condo
64000
1670
2
30
59000
1339
2
25
61500
1712
3
30
79000
1840
3
40
87500
2300
3
18
92500
2234
3
30
95000
2311
3
19
113000
2377
3
7
115000
2736
4
10
138000...
The following data give the selling price, square footage, number of bedrooms, and age of houses...
The following data give the selling price, square footage,
number of bedrooms, and age of houses that have sold in a
neighborhood in the past 6 months. Develop three regression models
to predict the selling price based upon each of the other factors
individually. Which of these is best?
Selling Price
Square Footage
Bedrooms
Age (Years)
84000
1670
2
30
79000
1339
2
25
91500
1712
3
30
120000
1840
3
40
127500
2300
3
18
132500
2234
3
30...
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