Question

In: Statistics and Probability

Make a scatter plot, including the regression line and its equation. Use an appropriate Excel function...

  1. Make a scatter plot, including the regression line and its equation.
  2. Use an appropriate Excel function to find the correlation coefficient r. Determine the type of linear relationship, if any.
  3. Interpret the slope and y-intercept, if appropriate, in the context of the data.
  4. 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?
    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

Solutions

Expert Solution

orchestra answered 1 year ago
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