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g price? The following data g price for fifteen houses in

g price? The following data g price for fifteen houses in

MATLAB: An Introduction with Applications
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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59. Home Size and Price. Is the number of square feet of living space a good predictor of a house's selling price? The following data collected in April, 2015, show the square foot- age and selling price for fifteen houses in Winston Salem, North Carolina (Zillow.com). Selling Price ($1000s) Size (1000s sq. ft) 1.26 117.5 3.02 299.9 1.99 139.0 .91 45.6 1.87 129.9 2.63 274.9 2.60 259.9 2.27 177.0 2.30 175.0 2.08 189.9 1.12 95.0 1.38 82.1 1.80 169.0 1.57 96.5 1.45 114.9 Source: Zillow.com, April 5, 2015. (https://www.zillow.com/) a. Develop a scatter diagram with square feet of living space as the independent vari- able and selling price as the dependent variable. What does the scatter diagram indicate about the relationship between the size of a house and the selling price? b. Develop the estimated regression equation that could be used to predict the selling price given the number of square feet of living space. c. At the .05 level, is there a significant relationship between the two variables?
Transcribed Image Text:59. Home Size and Price. Is the number of square feet of living space a good predictor of a house's selling price? The following data collected in April, 2015, show the square foot- age and selling price for fifteen houses in Winston Salem, North Carolina (Zillow.com). Selling Price ($1000s) Size (1000s sq. ft) 1.26 117.5 3.02 299.9 1.99 139.0 .91 45.6 1.87 129.9 2.63 274.9 2.60 259.9 2.27 177.0 2.30 175.0 2.08 189.9 1.12 95.0 1.38 82.1 1.80 169.0 1.57 96.5 1.45 114.9 Source: Zillow.com, April 5, 2015. (https://www.zillow.com/) a. Develop a scatter diagram with square feet of living space as the independent vari- able and selling price as the dependent variable. What does the scatter diagram indicate about the relationship between the size of a house and the selling price? b. Develop the estimated regression equation that could be used to predict the selling price given the number of square feet of living space. c. At the .05 level, is there a significant relationship between the two variables?
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