Question: (a) Make a scatter plot of the following data on X = home size and Y = selling price (thousands of dollars) for new homes

(a) Make a scatter plot of the following data on X = home size and Y = selling price (thousands of dollars) for new homes (n = 20) in a suburb of an eastern city.
(b) Find the sample correlation coefficient.
(c) Is there a linear relationship between X and Y? If so, describe it.

Selling Price (thousands) 0 Selling Price (thousands) Square Feet Square Feet 3,570 3,410 2,690 3,260 3,130 3,460 3,340 3,240 2,660 3,160 861 740 563 698 624 737 806 809 639 778 3,460 3,340 3,240 2,660 3,160 3,310 2,930 3,020 2,320 3,130 737 806 639 778 760 729 720 575 785

Step by Step Solution

★★★★★

3.29 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a b Using Excels correlation function CORRE... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

485-M-S-S-I (1758).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

Which of the following statements about the standard variable factory overhead application rate is true? a. The rate is a function of the denominator volume chosen. b. The rate is used for...

In exercise 12, the following data on x = average daily hotel room rate and y = amount spent on entertainment (The Waal Street Journal, August 18, 2011) led to the estimated regression equation y =...

Is there a linear relationship between age (AGE) and how many hours per week one works (HRS1)? Conduct a test to answer the question.

Question TI Not yet answered Points out of 1.00 l" Flag question Referring to this box plot of ice cream fat content, the mean would exceed the median l:l:l 0 10 2D 30 40 50 60 70 80 Fat Content...

Question 25 Complete 1.00 points out of 1.00 Not flaggedFlag question Question text (a) Make a scatter plot of the above data on X = home size and Y = selling price (thousands of dollars) for new...

One of the biggest factors in determining the value of a home is the square footage. The following data represent the square footage and selling price (in thousands of dollars) for a random sample of...

1. (Points: 1) With respect to a corporation, select the statement that is correct. a. Its organization requires an approved charter which is governed by state law. b. Ownership rights to the...

Question 1 1 pts Managerial accounting: Managerial accounting: has its primary emphasis on the future. is required by regulatory bodies such as the SEC. focuses on the organization as a whole, rather...

Scenario 3: One of the biggest factors in determining the value of a home is the size of the house. Bigger homes usually have a higher value than smaller homes. Houses are measured in square feet....

Han Bhd entered into a contract to supply, install and maintain 2,000 units of air conditioners for school hostel buildings at a price of RM2,500 per unit including warranty. The maintenance and...

Suppose that an achievement test in mathematics was given to students from two different high schools A and B. When the results of the test were tabulated, it was found that the average score for the...

1 4 . The New York Yankees' publishing director is trying to decide how many programs to print for next weekend's three - game series against the Boston Red Sox. Each program costs $ 0 . 2 5 and...

Anti-Ge3 h. Dombrock

Michigan Motors Corporation (MMC) just introduced a new luxury touring sedan. As part of its promotional campaign, the marketing department decided to send personalized invitations to test-drive the...

A committee in charge of promoting a Ladies Professional Golf Association tournament is trying to determine how best to advertise the event during the two weeks prior to the tournament. The committee...

Morley Company is attempting to determine the best location for a new machine in an existing layout of three machines. The existing machines are located at the following x1, x2 coordinates on the...

Ada anggapan bahwa berat ikan berkaitan secara linier dengan panjang atau lebarnya.Berdasarkan analisis regresi terhadap berat ikan dengan panjang total, panjang standar dan lebardiperoleh 3 model...

Problem 1 4 - 1 4 Expected Return, Dividends, and Taxes [ LO 2 ] The Gecko Company and the Gordon Company are two firms whose business risk is the same but that have different dividend policies....

Help! Describe what happens to future value when a. The interest rate increases b. The number of compounding periods increases C. The amount of time over which something is invested decreases 2....