A researcher is analyzing the relationship between various variables in housing data for 32 cities: median list prices of single family homes, condominium or co-ops, all homes, median household income, unemployment rate, and population. What is the regression equation for the model that predicts the list price of all homes using unemployment rate as an explanatory variable? Y^=____________X+(_____________)   What is the interpretation of the slope? (INCREASE OR DECREASE)  in the list price of all homes as unemployment rate increases.    What is the interpretation of the intercept?  (LIST PRICE OF ALL HOMES WHEN UNEMPLOYMENT RATE IS ZERO,  NO PRATICAL INTERCEPTION,  UNEMPLOYMENT RATE WHEN LIST PRICE OF ALL HOMES IS ZERO )

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A researcher is analyzing the relationship between various variables in housing data for 32 cities: median list prices of single family homes, condominium or co-ops, all homes, median household income, unemployment rate, and population.
What is the regression equation for the model that predicts the list price of all homes using unemployment rate as an explanatory variable?
Y^=____________X+(_____________)
 
What is the interpretation of the slope?
(INCREASE OR DECREASE)  in the list price of all homes as unemployment rate increases. 
 
What is the interpretation of the intercept?  (LIST PRICE OF ALL HOMES WHEN UNEMPLOYMENT RATE IS ZERO,  NO PRATICAL INTERCEPTION,  UNEMPLOYMENT RATE WHEN LIST PRICE OF ALL HOMES IS ZERO ) 
                                                                                                     
 
H
1 City
2 Atlanta, GA
Single family Condo or co- All homes
Household ir Unemploymi Population
403,000
298,000
317,000
55,279
8.5
498044
3 Minneapolis
4 Cincinatti, O
5 San Diego, C
6 Reno, NV
7 Portland, OR
8 Sioux Falls, S
9 Kansas City.
10 Chicago, IL
11 Savannah,G
331,000
291,000
323,000
58,993
38,545
7.5
425403
208,000
211,000
191,000
10.1
302605
1426000
829,000
450,000
536,000
725,000
75,456
8.8
247,000
411,000
441,000
54,916
6.9
250998
518,000
514,000
65,740
59,017
8.9
653115
257,000
248,000
175,000
219,000
3.4
181883
184,000
187,000
52,405
7.5
491918
297,000
292,000
210,000
357,000
55,198
13.8
2706000
206,000
203,000
41,093
8.8
145862
12 Bloomington
261,000
890,000
188,000
573,000
248,000
34,435
85,562
4.7
84981
13 Seattle, WA
837,000
6.6
744955
14 Concord, NH
43412
297,000
172,000
178,000
130,000
284,000
176,000
62,967
5.2
15 Augusta, ME
16 Des Moines,
17 Lincoln, NB
18 Nampa, ID
19 Draper, UT
20 Houston, TX
21 Memphis, TN
22 Waco, TX
23 Jackson, MS
24 Tampa, FL
25 Atlantic City,
40,340
5.4
18681
162,000
228,000
298,000
186,000
186,000
258,000
165,000
225,000
305,000
52,251
6.4
216853
55,224
3.2
287401
44,691
115,618
6.4
96252
613,000
418,000
599,000
4.8
48319
9.8
2326000
246,000
122,000
177,000
170,000
209,000
51,140
112,000
39,108
12.1
650618
170,000
127,000
164,000
37,735
7.0
138183
68,438
121,000
48,579
37,563
9.3
164422
330,000
50,909
245,000
112,000
289,000
6.9
392890
134,000
123,000
27,786
15.8
37804
26 Bozeman, M
535,000
343,000
499,000
51,896
3.9
48532
27 Las Vegas, N
333,000
183,000
318,000
54,694
14.1
644644
104,552
28 San Franciso 1,640,000 1,280,000 1,490,000
29 Philadelphia
30 Charlotte, NI
31 Ann Arbor, M
32 Charleston,
33 San Antonio,
8.4
888305
43,744
1584000
209,000
311,000
335,000
216,000
11.7
234,000
280,000
60,886
8.1
872498
440,000
282,000
412,000
63,956
5.0
121890
407,000
303,000
364,000
64,599
4.8
133762
215,000
165,000
213,000
46,317
8.0
1487000
34
35
Transcribed Image Text:H 1 City 2 Atlanta, GA Single family Condo or co- All homes Household ir Unemploymi Population 403,000 298,000 317,000 55,279 8.5 498044 3 Minneapolis 4 Cincinatti, O 5 San Diego, C 6 Reno, NV 7 Portland, OR 8 Sioux Falls, S 9 Kansas City. 10 Chicago, IL 11 Savannah,G 331,000 291,000 323,000 58,993 38,545 7.5 425403 208,000 211,000 191,000 10.1 302605 1426000 829,000 450,000 536,000 725,000 75,456 8.8 247,000 411,000 441,000 54,916 6.9 250998 518,000 514,000 65,740 59,017 8.9 653115 257,000 248,000 175,000 219,000 3.4 181883 184,000 187,000 52,405 7.5 491918 297,000 292,000 210,000 357,000 55,198 13.8 2706000 206,000 203,000 41,093 8.8 145862 12 Bloomington 261,000 890,000 188,000 573,000 248,000 34,435 85,562 4.7 84981 13 Seattle, WA 837,000 6.6 744955 14 Concord, NH 43412 297,000 172,000 178,000 130,000 284,000 176,000 62,967 5.2 15 Augusta, ME 16 Des Moines, 17 Lincoln, NB 18 Nampa, ID 19 Draper, UT 20 Houston, TX 21 Memphis, TN 22 Waco, TX 23 Jackson, MS 24 Tampa, FL 25 Atlantic City, 40,340 5.4 18681 162,000 228,000 298,000 186,000 186,000 258,000 165,000 225,000 305,000 52,251 6.4 216853 55,224 3.2 287401 44,691 115,618 6.4 96252 613,000 418,000 599,000 4.8 48319 9.8 2326000 246,000 122,000 177,000 170,000 209,000 51,140 112,000 39,108 12.1 650618 170,000 127,000 164,000 37,735 7.0 138183 68,438 121,000 48,579 37,563 9.3 164422 330,000 50,909 245,000 112,000 289,000 6.9 392890 134,000 123,000 27,786 15.8 37804 26 Bozeman, M 535,000 343,000 499,000 51,896 3.9 48532 27 Las Vegas, N 333,000 183,000 318,000 54,694 14.1 644644 104,552 28 San Franciso 1,640,000 1,280,000 1,490,000 29 Philadelphia 30 Charlotte, NI 31 Ann Arbor, M 32 Charleston, 33 San Antonio, 8.4 888305 43,744 1584000 209,000 311,000 335,000 216,000 11.7 234,000 280,000 60,886 8.1 872498 440,000 282,000 412,000 63,956 5.0 121890 407,000 303,000 364,000 64,599 4.8 133762 215,000 165,000 213,000 46,317 8.0 1487000 34 35
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