(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.) ŷ= X (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 $275,000. (Round your answer to the nearest dollar.)
(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.) ŷ= X (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 $275,000. (Round your answer to the nearest dollar.)
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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Please show me how to solve on excel and all your steps, I am struggling on setting up the problem.
Transcribed Image Text:(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.)
ŷ
=
X
(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 $275,000. (Round your answer to the nearest dollar.)
$
Transcribed Image Text: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 for 14 households.
Home
Value
($1,000)
243
322
199
340
300
400
800
200
522
546
436
463
635
357
Landscaping
Expenditures
($1,000)
8.2
10.9
12.1
16.1
15.7
18.8
23.5
9.5
17.5
22.0
12.2
13.5
17.8
13.8
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