Question: The correlation between house price (in dollars) and area of the house (in square feet) for some houses is 0.91. If you found the correlation

The correlation between house price (in dollars) and area of the house (in square feet) for some houses is 0.91. If you found the correlation between house price in thousands of dollars and area in square feet for the same houses, what would the correlation be?

Step by Step Solution

★★★★★

3.38 Rating (170 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

The new correlation would also be 091 The correlation remain... 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)

484-M-S-L-R (2757).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

You can earn thousands of dollars more from your mutual funds. The secret is to purchase no-load (no front-end commission) funds directly from companies specializing in this area. You can save 5.75%...

Some studies have shown that there is a correlation between consumption of salt and blood pressure. As more salt is consumed, blood pressure tends to rise. A reporter reads one of these studies and...

What is a positive correlation between two assets' returns? What is a negative correlation between two assets' returns? Which correlation is better for reducing the variance of a portfolio made up of...

1..The mean GPA of all 4000 students at a college is 2.55. A sample of 100 GPAs from this school has a mean of 2.81. Which number is and which is x? A. The statistic is x=2.55, and the parameter is...

Hi there! Need help creating this Java program. : ) Your task is to create a Java class called House and a corresponding driver program to interact with it . Class Attributes: The House class should...

Hey there. The task is to create a Java class called House and a corresponding driver program to interact with it . Class Attributes: The class should contain the following instance variables: (...

Suppose you have been hired as a consultant by the City Council of Baton Rouge, Louisiana to analyze the characteristics of a house that affect its market price in the city of Baton Rouge. It wants...

pls help Use the data in HPRICE4 to estimate the model price =b0+b1 sqrft +b2bdrms+u, where price is the house price measured in thousands of dollars, sqrft is the square feet of the house, and bdrms...

help me in this problems Suppose that a simple linear regression model is appropriate for describing the relationship between y = house price (in dollars) and x = house size (in square feet) for...

Phyllis is a realtor who is interested in the relationship between the listing price of a house and the number of rooms in a house. In April 2022, she randomly selects 36 houses currently for sale in...

What are restriction enzymes? Why does the presence of a restriction enzyme in a cell not cause the degradation of that cells DNA?

If all of a companys ITGC are effective except its contingency controls, would the auditor be able to conclude that the ICFR is effective? What if other controls are lacking but contingency controls...

What are four potential benefits of prompt reporting and analyzing of incidents? (Select four) 1) Leads to identifying the root causes and implementation of solutions to address them 2) Disconnect...

Santana Rey created Business Solutions on October 1, 2016. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up...

Review the following situations and determine what earnings & benefits are subject to Canada / Quebec Pension Plan and Employment insurance. After you have determined the pensionable and...

Tim works in Nova Scotia and is paid on a monthly basis. He is receiving a special pay (in addition to his 12 pays in the year) for a long service award. He is receiving an amount of $500 cash and he...

Consider the charity auction. In many charity auctions, altruistic celebrities auction objects with special value for their fans to raise funds for charity. Madonna, for example, held an auction to...

Estelle owns a large concreting business as a sole trader. The business operates ten concreting trucks, each worth approximately $200,000, five of which Estelle holds freehold. Estelle would like to...

The following data is collected by SRG Iron & Steel Co. for first four months of the next financial year : Month 1 Month 2 Month 3 Month 4 Sales 15,000 24,000 36,000 24,000 Purchase of Assets...

A survey of asked respondents how long (in years) they thought it would be before self driving cars were the majority of vehicles on the road, and a random sample from this survey was selected. The...

Heart rate data for a random sample of males and females was obtained. The data are available at the texts website. Use the data to answer these questions. Data were originally published in the...

Data were collected on calorie content in ales and IPAs and is summarized in the following table. a. Does the sample data provide evidence that there is a difference in calorie content for ales and...

Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round the inventory turnover ratio to one decimal place.) Company Beginning Inventory Ending Inventory...

Cumulative preferred stock: A) has a right to vote cumulatively B) requires dividends in arrears to be carried over into the next period. C) has a claim to dividends after common stock D) generally...

Happy Cleaners needs a new steam finishing machine that costs $100,000. The company is evaluating whether it should lease or purchase the machine. The equipment falls into the MACRS 3-year class, and...