Question

In: Statistics and Probability

DO NOT ANSWER IF YOU ARE UNSKILLED IN THIS AREA! THE DATA CHART IS CORRECT &...

DO NOT ANSWER IF YOU ARE UNSKILLED IN THIS AREA! THE DATA CHART IS CORRECT & COMPLETE!

Exercise 14-9 Algo

A realtor studies the relationship between the size of a house (in square feet) and the property taxes (in $) owed by the owner. The table below shows a portion of the data for 20 homes in a suburb 60 miles outside of New York City. [You may find it useful to reference the t table.]

Property Taxes	Size
21870	2467
17456	2493
18105	1876
15685	1055
43905	5603
33687	2518
15266	2257
16800	1989
18274	2025
16798	1343
15181	1371
36065	3003
31060	2816
42186	3362
14359	1544
38917	4064
25393	4083
22953	2469
16184	3587
29268	2860

Property Taxes		Size
	21,870		2,467
	17,456		2,493
	29,268		2,493

a-1. Calculate the sample correlation coefficient r_xy. (Round intermediate calculations to at least 4 decimal places and final answers to 4 decimal places.)

Sample correlation coefficient

a-2. Interpret r_xy.

The correlation coefficient indicates a positive linear relationship.
The correlation coefficient indicates a negative linear relationship.
The correlation coefficient indicates no linear relationship.

c-1. Calculate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer to 3 decimal places.)

Test statistic

Expert Solution

	Property Taxes (X)	Size (Y)	X * Y
	21870	2467	53953290	4.78E+08	6086089
	17456	2493	43517808	3.05E+08	6215049
	18105	1876	33964980	3.28E+08	3519376
	15685	1055	16547675	2.46E+08	1113025
	43905	5603	2.46E+08	1.93E+09	31393609
	33687	2518	84823866	1.13E+09	6340324
	15266	2257	34455362	2.33E+08	5094049
	16800	1989	33415200	2.82E+08	3956121
	18274	2025	37004850	3.34E+08	4100625
	16798	1343	22559714	2.82E+08	1803649
	15181	1371	20813151	2.3E+08	1879641
	36065	3003	1.08E+08	1.3E+09	9018009
	31060	2816	87464960	9.65E+08	7929856
	42186	3362	1.42E+08	1.78E+09	11303044
	14359	1544	22170296	2.06E+08	2383936
	38917	4064	1.58E+08	1.51E+09	16516096
	25393	4083	1.04E+08	6.45E+08	16670889
	22953	2469	56670957	5.27E+08	6095961
	16184	3587	58052008	2.62E+08	12866569
	29268	2860	83706480	8.57E+08	8179600
Total	489412	52785	1.45E+09	1.38E+10	1.62E+08

There is positive and moderate relationship between two variables.

Test Statistic :-

t = 4.792

orchestra answered 3 years ago

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