1. Construct a scatterplot of (Spaces from Go, and property Cost). 2. Describe the association between the two variables? (Direction, form, strength, context). 3. What is the regression equation? Write both as ŷ = a + bx and with the contextual variable names. 4. Compute the value of the centroid (x,y) and label it on the plot. 5. Show how the regression line goes through the centroid. (Plug into the equation.) 6. Find and interpret the meaning of the slope of the regression line in the context of the problem 7. Find and interpret the y-intercept of the regression line in the context of the problem. 8. Calculate the value of the residual for Waterworks (Space 28). Show your work. 9. What is the value of the correlation coefficient? Give two reasons why this numerical value makes sense.
1. Construct a scatterplot of (Spaces from Go, and property Cost). 2. Describe the association between the two variables? (Direction, form, strength, context). 3. What is the regression equation? Write both as ŷ = a + bx and with the contextual variable names. 4. Compute the value of the centroid (x,y) and label it on the plot. 5. Show how the regression line goes through the centroid. (Plug into the equation.) 6. Find and interpret the meaning of the slope of the regression line in the context of the problem 7. Find and interpret the y-intercept of the regression line in the context of the problem. 8. Calculate the value of the residual for Waterworks (Space 28). Show your work. 9. What is the value of the correlation coefficient? Give two reasons why this numerical value makes sense.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Transcribed Image Text:TH
I
6.4 Linear Regression with Monopoly Activity
H
MONOPOLY
H
I
2.
GO
Investigating Monopoly -
Is there an association between
spaces from "Go" and property
cost?
-
- Spaces from Go and Cost of Property
Data, Formulas, and Prediction
Here we look at entering data with an eye toward using the values of one attribute to
predict another.
Property
Mediterranean Avenue
Baltic Avenue
Reading Railroad
Oriental Avenue
Vermont Avenue
Connecticut Avenue
St. Charles Place
Electric Company
States Avenue
Virginia Avenue
Penn Railroad
St. James Place
Tennessee Avenue
New York Avenue
Kentucky Avenue
Indiana Avenue
Illinois Avenue
B & O Railroad
Atlantic Avenue
Ventnor Avenue
Water Works
Marvin Gardens
Pacific Avenue
Nth Carolina Avenue
ennsylvania Avenue
Short Line Railroad
Park Place
Boardwalk
Spaces from GO
1
3
5
6
8
9
11
12
13
14
15
16
18
19
21
23
24
25
26
27
28
29
31
32
34
35
37
39
Cost
60
60
200
100
100
120
140
150
140
160
200
180
180
200
220
220
240
200
260
260
150
280
300
300
320
200
350
400
Transcribed Image Text:1. Construct a scatterplot of (Spaces from Go, and property Cost).
2. Describe the association between the two variables? (Direction, form, strength, context).
3. What is the regression equation? Write it both as ŷ = a + bx and with the contextual variable
names.
4. Compute the value of the centroid (x, y) and label it on the plot.
5. Show how the regression line goes through the centroid. (Plug x into the equation.)
6. Find and interpret the meaning of the slope of the regression line in the context of the problem.
7. Find and interpret the y-intercept of the regression line in the context of the problem.
8. Calculate the value of the residual for Waterworks (Space 28). Show your work.
9. What is the value of the correlation coefficient? Give two reasons why this numerical value
makes sense.
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