4.1 Predicting Land Value Both scatterplots concern the assessed value of land (with homes on the land), and both depict the same observations.

a. Which do you think has a stronger relationship with value of the land—the number of acres of land or the number of rooms in the homes? Why?

b. If you were trying to predict the value of a parcel of land (on which there is a home) in this area, would you be able to make a better prediction by knowing the acreage or the number of rooms in the house?

Explain.

(Source: Minitab File, Student 12, “Assess.”)

(A) 140 120- Value of Land (thousands of dollars) (B) Value of Land (thousands of dollars) 140 120 100 80 100 80 60 40 0 1 2 3 4 5 6 Acreage 60 40 5.0 7.5 10.0 12.5 15.0 17.5 Rooms