1. make a scatter plot between Home Taxes and Selling Price of Homes . Be sure to...
Question:
1. make a scatter plot between Home Taxes and Selling Price of Homes. Be sure to consider which variable is the independent (and therefore x) variable and which is the y variable. (2 points)Hint: Nicer neighbourhoods have higher taxes Clearly, title your scatter plot and properly label your axis. (2 points)
2. Calculate the Correlation Coefficient between Home Taxes and Selling Price of Home and round to 4 decimals (2 points). Interpret the Correlation Coefficient. (2 points)
3. Determine the Line of Best Fit equation between the two variables above. (2 points) Interpret the slope (m) of the Line of Best Fit (2 points) Interpret the y-intercept (b) of the Best Fit Line (1 point)
4. Determine what the average home taxes if the selling price is $450,000. (2 points)
5. Determine the Coefficient of Determination. (no points) Interpret the Coefficient of Determination (2 points)
6. Determine the Standard Error of Estimate (1 points) Interpret the Standard Error of the Estimate (2 points)
List Price | Selling Price | Home Taxes | Acres | Area | Age | Taxes | Rooms | Bedrooms | Baths (full) |
414000 | 400000 | 4920 | 2.27 | 2704 | 27 | 4920 | 9 | 3 | 3 |
379000 | 370000 | 4113 | 0.75 | 2096 | 21 | 4113 | 8 | 4 | 2 |
389900 | 382500 | 6072 | 1 | 2737 | 36 | 6072 | 9 | 4 | 2 |
299900 | 300000 | 4024 | 0.43 | 1800 | 34 | 4024 | 8 | 4 | 2 |
319900 | 305000 | 3562 | 3.6 | 1066 | 69 | 3562 | 6 | 3 | 2 |
319900 | 320000 | 4672 | 1.7 | 1820 | 34 | 4672 | 7 | 3 | 2 |
328900 | 321000 | 3645 | 0.81 | 2700 | 35 | 3645 | 8 | 3 | 1 |
450000 | 445000 | 6256 | 2 | 2316 | 19 | 6256 | 9 | 4 | 2 |
385000 | 377500 | 5469 | 1.5 | 2448 | 40 | 5469 | 9 | 4 | 3 |
479000 | 460000 | 6740 | 1.09 | 3040 | 20 | 6740 | 10 | 4 | 2 |
275000 | 265000 | 4046 | 1.6 | 1500 | 39 | 4046 | 6 | 2 | 2 |
299000 | 299000 | 3481 | 0.42 | 1448 | 44 | 3481 | 7 | 3 | 1 |
379000 | 385000 | 4411 | 0.89 | 2400 | 33 | 4411 | 9 | 4 | 3 |
435000 | 430000 | 5714 | 4.79 | 2200 | 6 | 5714 | 8 | 4 | 2 |
219900 | 214900 | 2560 | 0.25 | 1635 | 49 | 2560 | 5 | 3 | 1 |
485000 | 475000 | 7885 | 11.58 | 2224 | 21 | 7885 | 7 | 3 | 2 |
289000 | 280000 | 3011 | 0.46 | 1738 | 49 | 3011 | 8 | 3 | 2 |
499900 | 457000 | 9809 | 1.84 | 3432 | 14 | 9809 | 11 | 4 | 3 |
224900 | 210000 | 1367 | 0.94 | 1175 | 64 | 1367 | 7 | 3 | 1 |
274900 | 272500 | 2317 | 1.39 | 1393 | 44 | 2317 | 6 | 3 | 1 |
275000 | 268000 | 3360 | 0.83 | 1196 | 44 | 3360 | 4 | 2 | 1 |
319900 | 300000 | 4294 | 0.57 | 1860 | 32 | 4294 | 9 | 3 | 2 |
479000 | 477000 | 9135 | 1.1 | 3867 | 19 | 9135 | 10 | 4 | 4 |
294900 | 292000 | 3690 | 0.52 | 1800 | 47 | 3690 | 8 | 2 | 1 |
383900 | 379000 | 6283 | 1 | 2722 | 29 | 6283 | 10 | 4 | 3 |
299900 | 295000 | 3286 | 0.9 | 2240 | 144 | 3286 | 6 | 3 | 1 |
499000 | 499000 | 3894 | 5.98 | 2174 | 62 | 3894 | 6 | 3 | 2 |
299000 | 292000 | 3476 | 2.93 | 1650 | 52 | 3476 | 7 | 3 | 1 |
299900 | 305000 | 4146 | 0.33 | 2000 | 36 | 4146 | 8 | 3 | 3 |
529700 | 520000 | 8350 | 1.53 | 3350 | 6 | 8350 | 11 | 4 | 2 |
320000 | 308000 | 4584 | 0.63 | 1776 | 42 | 4584 | 8 | 4 | 2 |
310000 | 316000 | 4380 | 2 | 1850 | 25 | 4380 | 7 | 3 | 2 |
362500 | 355500 | 4009 | 0.44 | 2600 | 46 | 4009 | 10 | 5 | 2 |
229000 | 225000 | 3047 | 0.62 | 1300 | 49 | 3047 | 6 | 3 | 1 |
290000 | 270000 | 2801 | 0.68 | 1352 | 24 | 2801 | 6 | 3 | 1 |
259900 | 253000 | 4048 | 0.68 | 1312 | 44 | 4048 | 6 | 2 | 1 |
314900 | 310000 | 2940 | 1.69 | 1664 | 53 | 2940 | 6 | 3 | 2 |
309900 | 300000 | 4281 | 0.83 | 1700 | 33 | 4281 | 8 | 4 | 2 |
295000 | 295000 | 4299 | 2.9 | 1650 | 34 | 4299 | 6 | 2 | 2 |
479000 | 478000 | 6688 | 2.14 | 2400 | 6 | 6688 | 8 | 4 | 2 |