2. What is the value of the correlation coefficient? 3. Correlation is an indicator of strength and direction. Does your interpretation of this correlation agree the answer for strength and direction that you found by reading the graph on page 1? Explain. 4. Using your calculator output from LinReg (ax+b), to get the coefficients for the regression line. a = slope = %3D b=y-intercept = 5. Write out the regression equation:

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question

First page is done for practice the sec I need help  they go hand in hand

**Calculator Instructions for Linear Regression**

1. **Data Entry:**
   - Input "Weeks on Market" into L1 and "Selling Price" into L2.
   - Press [STAT].
   - Use arrows to navigate to the CALC menu.
   - Scroll down to option 4: LinReg (ax+b).
   - Specify the list containing your data based on your calculator version.
   - Press the [ENTER] key.

2. **Correlation Coefficient:**
   - Determine the value of the correlation coefficient: _____________

3. **Correlation Interpretation:**
   - Correlation indicates the strength and direction of a relationship. Compare your correlation interpretation with the graph on page 1. Does it align? Provide an explanation.

4. **Regression Coefficients:**
   - Use the calculator output from LinReg (ax+b) to find the slope and y-intercept.
     - \(a = \text{slope} = \_\_\_\_\_\_\_\_\_\_\_\_\_)
     - \(b = \text{y-intercept} = \_\_\_\_\_\_\_\_\_\_\_\_\_\))

5. **Regression Equation:**
   - Write out the regression equation: __________________________
Transcribed Image Text:**Calculator Instructions for Linear Regression** 1. **Data Entry:** - Input "Weeks on Market" into L1 and "Selling Price" into L2. - Press [STAT]. - Use arrows to navigate to the CALC menu. - Scroll down to option 4: LinReg (ax+b). - Specify the list containing your data based on your calculator version. - Press the [ENTER] key. 2. **Correlation Coefficient:** - Determine the value of the correlation coefficient: _____________ 3. **Correlation Interpretation:** - Correlation indicates the strength and direction of a relationship. Compare your correlation interpretation with the graph on page 1. Does it align? Provide an explanation. 4. **Regression Coefficients:** - Use the calculator output from LinReg (ax+b) to find the slope and y-intercept. - \(a = \text{slope} = \_\_\_\_\_\_\_\_\_\_\_\_\_) - \(b = \text{y-intercept} = \_\_\_\_\_\_\_\_\_\_\_\_\_\)) 5. **Regression Equation:** - Write out the regression equation: __________________________
**Table of Data:**

| Weeks on Market | Selling Price (in thousands of $) |
|-----------------|-----------------------------------|
| 18              | 125                               |
| 48              | 73                                |
| 51              | 61                                |
| 33              | 76.5                              |
| 56              | 53                                |
| 9               | 133                               |
| 25              | 94                                |
| 47              | 90                                |
| 20              | 107                               |
| 27              | 84                                |
| 23              | 54                                |
| 16              | 102                               |

**Text and Analysis:**

- The relationship between weeks on the market and selling price is analyzed using a scatter plot.

**Graph Description:**

- The scatter plot is suggested to show data points representing the weeks on market (x-axis) and selling price in thousands (y-axis).

**Analysis Based on the Graph:**

- **Form:** Linear
- **Direction:** Negative
- **Strength:** Moderate
- **Outlier(s):** None

The scatter plot analysis indicates a negative linear relationship of moderate strength between the time a property remains on the market and its selling price.
Transcribed Image Text:**Table of Data:** | Weeks on Market | Selling Price (in thousands of $) | |-----------------|-----------------------------------| | 18 | 125 | | 48 | 73 | | 51 | 61 | | 33 | 76.5 | | 56 | 53 | | 9 | 133 | | 25 | 94 | | 47 | 90 | | 20 | 107 | | 27 | 84 | | 23 | 54 | | 16 | 102 | **Text and Analysis:** - The relationship between weeks on the market and selling price is analyzed using a scatter plot. **Graph Description:** - The scatter plot is suggested to show data points representing the weeks on market (x-axis) and selling price in thousands (y-axis). **Analysis Based on the Graph:** - **Form:** Linear - **Direction:** Negative - **Strength:** Moderate - **Outlier(s):** None The scatter plot analysis indicates a negative linear relationship of moderate strength between the time a property remains on the market and its selling price.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 1 images

Blurred answer
Knowledge Booster
Fundamentals of Trigonometric Identities
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman