bg
bg
bg
bg

GradePack

A group of twenty homes in a subdivision have sold in the pa…

A group of twenty homes in a subdivision have sold in the past year. They were of sizes ranging from 4000 to 7000 square feet, with an average size   = 5000 square feet and a standard deviation, =  600 square feet. The average selling price was = $1000000 with a standard deviation, = $100000. The correlation between home size and selling price is r =.9000.You want to fit a linear model to this data to estimate the response variable, selling price, using house size as the explanatory variable.  Calculate the intercept b, of the regression line. 

 Read Details

You are the county tax assessor. You have the following data…

You are the county tax assessor. You have the following data concerning the size ( in square feet) and the selling price (in dollars) for twenty ( n=20) homes in an upscale neighborhood. You need to update the market prices of the unsold homes in the neighborhood.                                              (SIZE, PRICE)   (2400, 225000)            (2425, 250000)           (3200, 325000)            (2450, 225000)           (3000, 350000)            (3425, 400000)           (2750, 300000)            (2250, 250000)           (3150, 350000)            (3000, 325000)           (2275, 225000)            (2150, 200000) (2350, 250000)           (2250, 225000) (3225, 350000)            (3625, 450000) (2850, 325000)            (3200, 400000) (2900, 300000)            (2650, 300000)     Enter all of the house sizes in one list, and all of the house prices in another list. What is the correlation between SIZE and PRICE?

 Read Details