Answered: David's Landscaping has collected data…

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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Question

5h.

David's Landscaping 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. Data for 14 households may be found in the file Landscape.

Home Value ($1,000)	Landscaping Expenditures ($1,000)
242	8.1
321	10.8
198	12.2
340	16.2
300	15.6
400	18.9
800	23.5
200	9.5
521	17.5
547	22.0
437	12.1
464	13.5
635	17.9
356	13.9

(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 =

(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 $575,000. (Round your answer to the nearest dollar.)

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