3. QUESTION The median selling price of small houses in Paarl from 2000 to 2004 are shown in the table below. Let Y denote the median sales price and x the year (replace the year values with integers 1 to 5). YEAR Median Sales Price (XR10 000) 2000 27.6 2001 32.5 2002 35.9 2003 39.3 2004 44.2 Year X Y XY x2 2000 1 27.6 27.6 1 761.8 2001 2 32.5 65.0 4 1 056.3 2002 3 35.9 107.7 9 1 288.8 2003 4 39.3 157.2 16 1 544.5 2004 5 44.2 221.0 25 1953.6 15 179.5 578.5 55 6 605.0 3.1 Fit the model Y = Bo + B1x + ɛ 3.2 What would you conclude from the results in 3.1? 3.3 Construct a 95% prediction interval for the median sale price in 2005. Interpret your answer 3.4 Calculate the correlation coefficient and interpret the value 3.5 Calculate the coefficient of determination and interpret the value
3. QUESTION The median selling price of small houses in Paarl from 2000 to 2004 are shown in the table below. Let Y denote the median sales price and x the year (replace the year values with integers 1 to 5). YEAR Median Sales Price (XR10 000) 2000 27.6 2001 32.5 2002 35.9 2003 39.3 2004 44.2 Year X Y XY x2 2000 1 27.6 27.6 1 761.8 2001 2 32.5 65.0 4 1 056.3 2002 3 35.9 107.7 9 1 288.8 2003 4 39.3 157.2 16 1 544.5 2004 5 44.2 221.0 25 1953.6 15 179.5 578.5 55 6 605.0 3.1 Fit the model Y = Bo + B1x + ɛ 3.2 What would you conclude from the results in 3.1? 3.3 Construct a 95% prediction interval for the median sale price in 2005. Interpret your answer 3.4 Calculate the correlation coefficient and interpret the value 3.5 Calculate the coefficient of determination and interpret the value
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:3. QUESTION
The median selling price of small houses in Paarl from 2000 to 2004 are shown in the table below. Let Y denote
the median sales price and x the year (replace the year values with integers 1 to 5).
YEAR
Median Sales Price
(XR10 000)
2000
27.6
2001
32.5
2002
35.9
2003
39.3
2004
44.2
Year
X
Y
XY
x2
y?
2000
27.6
27.6
1
761.8
2001
2
32.5
65.0
4
1 056.3
2002
3
35.9
107.7
9.
1 288.8
2003
4
39.3
157.2
16
1 544.5
2004
44.2
221.0
25
1953.6
15
179.5
578.5
55
6 605.0
3.1
Fit the model Y
Bo + Bix + ɛ
3.2
What would you conclude from the results in 3.1?
3.3
Construct a 95% prediction interval for the median sale price in 2005. Interpret your answer
3.4
Calculate the correlation coefficient and interpret the value
3.5
Calculate the coefficient of determination and interpret the value
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