The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in
Question:
a. Calculate and interpret the value of the correlation coefficientbetween sale price and size.
b. Calculate and interpret the value of the correlation co ef fi cient between sale price and land-to-building ratio.
c. If you wanted to predict sale price and you could use either size or land-to-building ratio as the basis for making predictions, which would you use? Explain.
d. Based on your choice in Part (c), find the equation of the least-squares regression line you would use for predicting y sale price. y =5 1.333 + 0.00525x
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Related Book For
Statistics The Exploration & Analysis Of Data
ISBN: 9780840058010
7th Edition
Authors: Roxy Peck, Jay L. Devore
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