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.

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 taxes for a 1,700-square-foot home. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)

Taxes= [ ]

Excel Data File

Taxes Size
21936 2408
17315 2325
18226 1828
15677 1051
43975 5692
33677 2639
15117 2349
16712 1910
18276 2050
16099 1450
15195 1259
36002 2999
31078 2899
42015 3365
14372 1625
38949 4076
25364 3985
22926 2518
16195 3530
29244 2856

Solutions

Expert Solution

orchestra answered 1 year ago
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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 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...
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