Figure 1 reports a scatter plot of hhinc (horizontal axis) and size (vertical axis). Doyou see any correlation in the data? Can you conclude that a higher net incomecauses a higher home size? The questions below are based on a dataset containing the characteristics of 5,407households. In particular, we will use the following variables:- size: home size, measured in square feet.- hhinc: annual household net income, measured in euros.- owner. dummy variable equal to 1 if the living space is owned, and 0 if the livingspace is rented.- hhsize1: dummy variable equal to 1 if the number of household's members is 1 or2, and 0 otherwise.hhsize2: dummy variable equal to 1 if the number of household's members is 3 or4, and 0 otherwise.hhsize3: dummy variable equal to 1 if the number of household's members is 5 orabove 5, and 0 otherwise.- edu: education level of household's members.The Appendix contains tables with the critical values of the standard normal distribution andthe F distribution. 100000200000400000300000hhine500000Figure 1000s000000€0002000L

Answered: Figure 1 reports a scatter plot of…

Figure 1 reports a scatter plot of hhinc (horizontal axis) and size (vertical axis). Do you see any correlation in the data? Can you conclude that a higher net income causes a higher home size?

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

Figure 1 reports a scatter plot of hhinc (horizontal axis) and size (vertical axis). Do
you see any correlation in the data? Can you conclude that a higher net income
causes a higher home size?

100000
200000
400000
300000
hhine
500000
Figure 1
000s
000
000€
0002
000L

Definition Definition Relationship between two independent variables. A correlation tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

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