Copy and paste Excel output and answer questions 1. Median Income and Median Home Price in Selected Eastern Cities (n = 34) City Income Home Alexandria, VA 59.976 290.000 Bernards Twp., NJ 112.435 279.900 Brentwood, TN 107.866 338.250 Bridgewater, NJ 93.484 316.000 Cary, NC 77.091 207.000 Centreville, VA 77.243 250.000 Chantilly, VA 94.864 320.000 Chesapeake, VA 53.758 150.000 Collierville, TN 85.716 230.000 Columbia, MD 77.033 199.000 Coral Springs, FL 62.632 218.500 Dranesville, VA 109.502 290.000 Dunwoody, GA 86.971 315.000 Ellicott City, MD 83.583 248.000 Franconia, VA 84.537 290.000 Gaithersburg, MD 64.944 220.000 Hoover, AL 64.431 170.450 Hunter Mill, VA 93.987 290.000 Lower Makefield Twp., PA 102.997 205.000 Manalapan Twp., NJ 91.245 410.000 Marlboro Twp., NJ 108.759 379.975 Matoaca, VA 65.149 135.000 Newtown, CT 97.723 358.500 North Andover, MA 79.169 342.500 Oakton, VA 90.824 341.000 Olney, MD 100.716 287.450 Peachtree City, GA 79.805 214.500 Ramapo, NY 64.954 330.875 Randolph Twp., NJ 104.121 444.500 Reston, VA 85.264 240.000 Roswell, GA 76.530 226.450 Sugarland Run, VA 103.350 278.250 Sully, VA 92.942 290.000 Wellington, FL 76.076 230.000 1) State your a priori hypothesis. Is it reasonable to suppose a cause-and-effect relationship? 2) Make a scatter plot of Y against X. Discuss what it tells you. 3) Use Excel’s Add Trendline feature to fit a linear regression to the scatter plot. Is a linear model credible? 4) Use Excel to fit the regression model 5)Based on the R square and ANOVA table for your model, how would you assess the fit?
Copy and paste Excel output and answer questions
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City |
Income |
Home |
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Alexandria, VA |
59.976 |
290.000 |
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Bernards Twp., NJ |
112.435 |
279.900 |
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Brentwood, TN |
107.866 |
338.250 |
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Bridgewater, NJ |
93.484 |
316.000 |
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Cary, NC |
77.091 |
207.000 |
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Centreville, VA |
77.243 |
250.000 |
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Chantilly, VA |
94.864 |
320.000 |
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Chesapeake, VA |
53.758 |
150.000 |
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Collierville, TN |
85.716 |
230.000 |
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Columbia, MD |
77.033 |
199.000 |
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Coral Springs, FL |
62.632 |
218.500 |
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Dranesville, VA |
109.502 |
290.000 |
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Dunwoody, GA |
86.971 |
315.000 |
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Ellicott City, MD |
83.583 |
248.000 |
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Franconia, VA |
84.537 |
290.000 |
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Gaithersburg, MD |
64.944 |
220.000 |
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Hoover, AL |
64.431 |
170.450 |
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Hunter Mill, VA |
93.987 |
290.000 |
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Lower Makefield Twp., PA |
102.997 |
205.000 |
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Manalapan Twp., NJ |
91.245 |
410.000 |
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Marlboro Twp., NJ |
108.759 |
379.975 |
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Matoaca, VA |
65.149 |
135.000 |
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Newtown, CT |
97.723 |
358.500 |
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North Andover, MA |
79.169 |
342.500 |
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Oakton, VA |
90.824 |
341.000 |
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Olney, MD |
100.716 |
287.450 |
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Peachtree City, GA |
79.805 |
214.500 |
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Ramapo, NY |
64.954 |
330.875 |
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Randolph Twp., NJ |
104.121 |
444.500 |
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Reston, VA |
85.264 |
240.000 |
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Roswell, GA |
76.530 |
226.450 |
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Sugarland Run, VA |
103.350 |
278.250 |
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Sully, VA |
92.942 |
290.000 |
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Wellington, FL |
76.076 |
230.000 |
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1) State your a priori hypothesis. Is it reasonable to suppose a cause-and-effect relationship? 2) Make a 3) Use Excel’s Add Trendline feature to fit a linear regression to the scatter plot. Is a linear model credible? 4) Use Excel to fit the regression model 5)Based on the R square and ANOVA table for your model, how would you assess the fit? |
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