iii. Identify coefficient of correlation and interpret its meaning. iv. Find the coefficient of determination and interpret its meaning.
iii. Identify coefficient of correlation and interpret its meaning. iv. Find the coefficient of determination and interpret its meaning.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Do question iii and iv only.
![Question 4
A store manager wants to determine the effect of house sizes on sales prices. He has randomly
selected 10 houses for the study. The sizes of houses (square feet) and sales prices ($'000) were
recorded as below.
No.
House Size (square feet)
Sales Price ($'000)
1
1002
772
1252
526
3
1270
398
1200
330
5
1591
797
6.
1971
794
1182
720
8.
1010
585
9.
1659
781
10
1618
635
Scatterplot of Sales Price vs House Size
900
800
700
600
500
400
300
200
100
500
1000
1500
2000
2500
House Size
i. Interpret the scatterplot.
ii. Using MS Excel, write down the equation of the regression line and interpret the regression
coefficients.
iii. Identify coefficient of correlation and interpret its meaning.
iv. Find the coefficient of determination and interpret its meaning.
Sales Price](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F545054b0-a8e3-4b8e-ab8e-84bee489f571%2Ff0c4f6e8-6a26-4329-9b4c-9ebc1099a0dd%2Fe6rglj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 4
A store manager wants to determine the effect of house sizes on sales prices. He has randomly
selected 10 houses for the study. The sizes of houses (square feet) and sales prices ($'000) were
recorded as below.
No.
House Size (square feet)
Sales Price ($'000)
1
1002
772
1252
526
3
1270
398
1200
330
5
1591
797
6.
1971
794
1182
720
8.
1010
585
9.
1659
781
10
1618
635
Scatterplot of Sales Price vs House Size
900
800
700
600
500
400
300
200
100
500
1000
1500
2000
2500
House Size
i. Interpret the scatterplot.
ii. Using MS Excel, write down the equation of the regression line and interpret the regression
coefficients.
iii. Identify coefficient of correlation and interpret its meaning.
iv. Find the coefficient of determination and interpret its meaning.
Sales Price
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