A landscaping company has collected data on home values (in thousands of $) and expenditures (in thousands of $) on landscaping with the hope of developing a predictive model to help marketing to potential new clients. Suppose the following table represents data for14 households.HomeValueLandscapingExpenditures($1,000)($1,000)2418.232210.719712.134016.330015.740018.880023.52009.552217.554622.043812.246313.563517.835713.8(a) Develop a scatter diagram with home value as the independent variable.90090080080020207007006006001515500500400400300300200200100100100 200 300 400 500 600 700 800 90010152025100 200 300 400 500 600 700 800 900510152025Home Value ($1,000)Landscaping Expenditures ($1,000)Home Value ($1,000)Landscaping Expenditures ($1,000)Landscaping Expenditures ($1,000)Home Value ($1,000)Landscaping Expenditures ($1,000)Home Value ($1,000) (b) What does the scatter plot developed in part (a) indicate about the relationship between the two variables?O The scatter diagram indicates no apparent relationship between home value and landscaping expenditures.O The scatter diagram indicates a positive linear relationship between home value and landscaping expenditures.O The scatter diagram indicates a nonlinear relationship between home value and landscaping expenditures.O The scatter diagram indicates a negative linear relationship between home value and landscaping expenditures.(c) Use the least squares method to develop the estimated regression equation. (Let x = home value (in thousands of $), and let y = landscaping expenditures (in thousands of $). Round your numerical values to five decimal places.)(d) For every additional $1,000 in home value, estimate how much additional will be spent (in $) on landscaping. (Round your answer to the nearest cent.)$(e) Use the equation estimated in part (c) to predict the landscaping expenditures (in $) for a home valued at $475,000. (Round your answer to the nearest dollar.)

Answer : (a) The above diagram shows: The horizontal axis labeled as "Home Value" with values from…

Answered: A landscaping company has collected…

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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