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ATA file Houses 59. Home Size and Price. Is the number of square feet of living space a good predictor of a house's selling price? The following data collected in April, 2015, show the square foot- age and selling price for fifteen houses in Winston Salem, North Carolina (Zillow.com). Size (1000s sq. ft) 1.26 3.02 1.99 .91 1.87 2.63 2.60 2.27 2.30 2.08 1.12 1.38 1.80 1.57 1.45 Selling Price ($1000s) 117.5 299.9 139.0 45.6 129.9 274.9 259.9 177.0 175.0 189.9 95.0 82.1 169.0 96.5 114.9 Source: Zillow.com, April 5, 2015. (https://www.zillow.com/) a. Develop a scatter diagram with square feet of living space as the independent vari- able and selling price as the dependent variable. What does the scatter diagram indicate about the relationship between the size of a house and the selling price? b. Develop the estimated regression equation that could be used to predict the selling price given the number of square feet of living space. c. At the .05 level, is there a significant relationship between the two variables? d. Use the estimated regression equation to predict the selling price of a 2000 square foot house in Winston Salem, North Carolina.

ATA file Houses 59. Home Size and Price. Is the number of square feet of living space a good predictor of a house's selling price? The following data collected in April, 2015, show the square foot- age and selling price for fifteen houses in Winston Salem, North Carolina (Zillow.com). Size (1000s sq. ft) 1.26 3.02 1.99 .91 1.87 2.63 2.60 2.27 2.30 2.08 1.12 1.38 1.80 1.57 1.45 Selling Price ($1000s) 117.5 299.9 139.0 45.6 129.9 274.9 259.9 177.0 175.0 189.9 95.0 82.1 169.0 96.5 114.9 Source: Zillow.com, April 5, 2015. (https://www.zillow.com/) a. Develop a scatter diagram with square feet of living space as the independent vari- able and selling price as the dependent variable. What does the scatter diagram indicate about the relationship between the size of a house and the selling price? b. Develop the estimated regression equation that could be used to predict the selling price given the number of square feet of living space. c. At the .05 level, is there a significant relationship between the two variables? d. Use the estimated regression equation to predict the selling price of a 2000 square foot house in Winston Salem, North Carolina.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter10: Measurement, Area, And Volume
Section10.8: Volumes Of Pyramids And Cones
Problem 16E
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716 DATA file Online Edu Chapter 14 Simple Linear Regression e. Do you believe the estimated regression equation developed in part (b) will provide a good prediction of selling price of a particular house in Winston Salem, North Carolina? Explain. f. Would you be comfortable using the estimated regression equation developed in part (b) to predict the selling price of a particular house in Seattle, Washington? Why or why not? 60. Online Education. One of the biggest changes in higher education in recent years has been the growth of online universities. The Online Education Database is an independ- ent organization whose mission is to build a comprehensive list of the top accredited online colleges. The following table shows the retention rate (%) and the graduation rate (%) for 29 online colleges. Retention Rate (%) 7 51 4 29 33 47 Graduation Rate (%) 25 25 28 32 33
Transcribed Image Text:716 DATA file Online Edu Chapter 14 Simple Linear Regression e. Do you believe the estimated regression equation developed in part (b) will provide a good prediction of selling price of a particular house in Winston Salem, North Carolina? Explain. f. Would you be comfortable using the estimated regression equation developed in part (b) to predict the selling price of a particular house in Seattle, Washington? Why or why not? 60. Online Education. One of the biggest changes in higher education in recent years has been the growth of online universities. The Online Education Database is an independ- ent organization whose mission is to build a comprehensive list of the top accredited online colleges. The following table shows the retention rate (%) and the graduation rate (%) for 29 online colleges. Retention Rate (%) 7 51 4 29 33 47 Graduation Rate (%) 25 25 28 32 33
DATA file WSHouses 300 Value in part (e) is beyond the range of the data used to develop the estimated regression equation? 59. Home Size and Price. Is the number of square feet of living space a good predictor of a house's selling price? The following data collected in April, 2015, show the square foot- age and selling price for fifteen houses in Winston Salem, North Carolina (Zillow.com). Size (1000s sq. ft) 1.26 3.02 1.99 .91 1.87 2.63 2.60 2.27 2.30 2.08 1.12 1.38 1.80 1.57 1.45 Selling Price ($1000s) 117.5 299.9 139.0 45.6 129.9 274.9 259.9 177.0 175.0 189.9 95.0 82.1 169.0 96.5 114.9 Source: Zillow.com, April 5, 2015. (https://www.zillow.com/) a. Develop a scatter diagram with square feet of living space as the independent vari- able and selling price as the dependent variable. What does the scatter diagram indicate about the relationship between the size of a house and the selling price? b. Develop the estimated regression equation that could be used to predict the selling price given the number of square feet of living space. c. At the .05 level, is there a significant relationship between the two variables? d. Use the estimated regression equation to predict the selling price of a 2000 square foot house in Winston Salem, North Carolina.
Transcribed Image Text:DATA file WSHouses 300 Value in part (e) is beyond the range of the data used to develop the estimated regression equation? 59. Home Size and Price. Is the number of square feet of living space a good predictor of a house's selling price? The following data collected in April, 2015, show the square foot- age and selling price for fifteen houses in Winston Salem, North Carolina (Zillow.com). Size (1000s sq. ft) 1.26 3.02 1.99 .91 1.87 2.63 2.60 2.27 2.30 2.08 1.12 1.38 1.80 1.57 1.45 Selling Price ($1000s) 117.5 299.9 139.0 45.6 129.9 274.9 259.9 177.0 175.0 189.9 95.0 82.1 169.0 96.5 114.9 Source: Zillow.com, April 5, 2015. (https://www.zillow.com/) a. Develop a scatter diagram with square feet of living space as the independent vari- able and selling price as the dependent variable. What does the scatter diagram indicate about the relationship between the size of a house and the selling price? b. Develop the estimated regression equation that could be used to predict the selling price given the number of square feet of living space. c. At the .05 level, is there a significant relationship between the two variables? d. Use the estimated regression equation to predict the selling price of a 2000 square foot house in Winston Salem, North Carolina.
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