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 rxy. (Round intermediate calculations to at least 4 decimal places and final answers to 4 decimal places.)

Sample correlation coefficient

a-2. Interpret rxy.

  • 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

Solutions

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



Related Solutions

Use the chart of data below to answer the following questions. This data represents enrollment for...
Use the chart of data below to answer the following questions. This data represents enrollment for the Fall semesters 2013 – 2017 years. Part a: Is being part time dependent upon gender? Part b: Is the probability of being a male student enrolled (or female) dependent upon year? Part c: Create a probability tree, with the appropriate probabilities using the data from the table. Assume the tree is showing the PT or FT probabilities given the gender of the student....
Hey the correct answer is given for both, but can you please do the steps on...
Hey the correct answer is given for both, but can you please do the steps on how to get to the answer, Im confused on how to solve? Thank you! 3. At least what sample size is necessary in order to obtain a 90% confidence interval of length 6, when SD = 10? A. 8 B. 16 C. 60 D. 15 E. 61 Answer: E 4. With which combination of confidence level and sample size will the corresponding confidence interval...
a. For each of the following, answer correct to two decimal places Find the area under...
a. For each of the following, answer correct to two decimal places Find the area under the curve y=3x^3+2 Find the area between the curve y=2/x and the x-axis for x between -5 and -4 Find the area between the curve y=x^2-3x and the x-axis for x between 2 and 7 Find the area bounded by the curves y=6x^3+1 and y=6x+1 b. The birth rate in a certain city is described by the following function . The city's death rate...
Hi can you do me this 3 exercises? if you answer them all and are correct...
Hi can you do me this 3 exercises? if you answer them all and are correct I will put thumbs up! thanks :) 7) Focus groups of 14 people are randomly selected to discuss products of the Famous Company. It is determined that the mean number (per group) who recognize the Famous brand name is 9, and the standard deviation is 0.79. Would it be unusual to randomly select 14 people and find that greater than 13 recognize the Famous...
how do you add the chart in excel?
how do you add the chart in excel?
Using the data shown, you will create two charts. The first chart is a bar chart...
Using the data shown, you will create two charts. The first chart is a bar chart that will display % growth in different job titles between 2010 and 2020Est. The second chart will be a pie chart showing the 2020Est. Jobs in different categories as a % of overall 2020Est. jobs. Computer-Related Jobs 2010 2020 Est. % Change Systems Analysts         544,400         664,800 Software App Developers         520,800         664,500 Programmers         363,100         406,800 Network/System Admins         347,200...
Find the area of the surface correct to four decimal places by expressing the area in...
Find the area of the surface correct to four decimal places by expressing the area in terms of a single integral and using your calculator to estimate the integral. The part of the surface z = e^{-x^2 - y^2} that lies above the disk x2 + y2 ≤ 49 Please write clearly and show work. I am having trouble the the rdr integral.
How do you find the area of a circle when given the area of a sector?
How do you find the area of a circle when given the area of a sector?
do a chart related to the rainbow phenomenon with a explnation of the chart ( short...
do a chart related to the rainbow phenomenon with a explnation of the chart ( short paragraph ) ( please i want the chart clearly to put in my powerpiont presentation)
Which of the following is correct regarding QuickBooks Online Chart of Accounts?
Which of the following is correct regarding QuickBooks Online Chart of Accounts? Multiple Choice By customizing the QuickBooks Online Chart of Accounts to align with the business tax return, countless hours can be saved in preparation time QuickBooks Online does not encourage editing of its Chart of Accounts since too many errors can be made by changing what was initially set up when the company was organized. QuickBooks Online does allow editing of the accounts in the Chart of Accounts, however, it only allows...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT