The square footages and sale prices in thousands of dollars, Ask an Expert

Statistics

The square footages and sale prices (in thousands of dollars) of seven homes are shown in the table below. Use this information to answer the following questions.

Please use calculator to answer

1. What kind of correlation is there between square footage and home sale price?

No correlation

Positive correlation

Negative correlation

2. What is the value of the correlation coefficient, r? Round the answer to three decimal places.

3. Write the equation of the least squares regression line. Round a and b to the nearest hundredth (2 decimal places).

4 Compute the coefficient of determination, r². Round the nearest thousandth (3 decimal places).

5. What percentage of the variation in the sale price of a home is explained by the square footage and the least-squares line?

6. What percentage of the variation in the sale price of a home is unexplained by the square footage and the least-squares line?

Square Footage, x

1924

1592

2413

2332

1552

1312

1278

Sale

Price, y

174.9

136.9

275.0

219.9

120.0

99.9

145.0

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91011625

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