An auditor would like to develop a model to predict the county taxes, based on the age
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Question:
An auditor would like to develop a model to predict the county taxes, based on the age of single family houses. She selects a random sample.
1. Construct a scatter plot. Describe the data.
2. Determine what type of approach to use in modeling the data.
3. Interpret the results of your analysis and algebraically define your model.
4. Predict the mean county taxes for a home that is 20 years old.
5. Provide an explanation as to how you determined the number of variables to include in your model.
Age | Taxes |
1 | 925 |
2 | 870 |
4 | 809 |
4 | 720 |
5 | 694 |
8 | 630 |
10 | 626 |
10 | 562 |
12 | 546 |
15 | 523 |
20 | 480 |
22 | 486 |
25 | 462 |
25 | 441 |
30 | 426 |
35 | 368 |
40 | 350 |
50 | 348 |
50 | 322 |
Related Book For
Basic Business Statistics Concepts and Applications
ISBN: 978-0132168380
12th edition
Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel
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