Question: Please the output must be from excel and I am unsure how to do that. Median Income and Median Home Price in Selected Eastern Cities
Please the output must be from excel and I am unsure how to do that.
| Median Income and Median Home Price in Selected Eastern Cities (n = 34) | ||
| City | Income | Home |
| Alexandria, VA | 59.976 | 290.000 |
| Bernards Twp., NJ | 112.435 | 279.900 |
| Brentwood, TN | 107.866 | 338.250 |
| Bridgewater, NJ | 93.484 | 316.000 |
| Cary, NC | 77.091 | 207.000 |
| Centreville, VA | 77.243 | 250.000 |
| Chantilly, VA | 94.864 | 320.000 |
| Chesapeake, VA | 53.758 | 150.000 |
| Collierville, TN | 85.716 | 230.000 |
| Columbia, MD | 77.033 | 199.000 |
| Coral Springs, FL | 62.632 | 218.500 |
| Dranesville, VA | 109.502 | 290.000 |
| Dunwoody, GA | 86.971 | 315.000 |
| Ellicott City, MD | 83.583 | 248.000 |
| Franconia, VA | 84.537 | 290.000 |
| Gaithersburg, MD | 64.944 | 220.000 |
| Hoover, AL | 64.431 | 170.450 |
| Hunter Mill, VA | 93.987 | 290.000 |
| Lower Makefield Twp., PA | 102.997 | 205.000 |
| Manalapan Twp., NJ | 91.245 | 410.000 |
| Marlboro Twp., NJ | 108.759 | 379.975 |
| Matoaca, VA | 65.149 | 135.000 |
| Newtown, CT | 97.723 | 358.500 |
| North Andover, MA | 79.169 | 342.500 |
| Oakton, VA | 90.824 | 341.000 |
| Olney, MD | 100.716 | 287.450 |
| Peachtree City, GA | 79.805 | 214.500 |
| Ramapo, NY | 64.954 | 330.875 |
| Randolph Twp., NJ | 104.121 | 444.500 |
| Reston, VA | 85.264 | 240.000 |
| Roswell, GA | 76.530 | 226.450 |
| Sugarland Run, VA | 103.350 | 278.250 |
| Sully, VA | 92.942 | 290.000 |
| Wellington, FL | 76.076 | 230.000 |
1) State your a priori hypothesis. Is it reasonable to suppose a cause-and-effect relationship?
2) Make a scatter plot of Y against X. Discuss what it tells you.
3) Use Excel's Add Trendline feature to fit a linear regression to the scatter plot. Is a linear model credible?
4) Use Excel to fit the regression model
5)Based on the R square and ANOVA table for your model, how would you assess the fit?
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
