Answered: One of the biggest factors in…

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

One of the biggest factors in determining the value of a home is the square footage. The accompanying data represent the square footage and selling price (in thousands of dollars) for a random sample of homes for sale in a certain region. Complete parts (a) through (h) below.

(a) Which variable is the explanatory variable?

A. Selling Price

B. Square Footage

r=_____?

(Round to three decimal places as needed.)

(d) Is there a linear relation between square footage and asking price?

Yes

(e) Find the least-squares regression line treating square footage as the explanatory variable.

y=_____x+____

(Round the slope to three decimal places as needed. Round the intercept to one decimal place as needed.)

(f) Interpret the slope. Select the correct choice below and, if necessary, fill in the answer box to complete your choice.

A. For every additional thousand dollars in selling price, the square footage

increases by ____ square feet, on average.

(Round to three decimal places as needed.)

B. For a house that is sold for $0, the predicted square footage is _____

(Round to three decimal places as needed.)

C. For every additional square foot, the selling price increases by _____

thousand dollars, on average.

(Round to three decimal places as needed.)

D.For a house that is 0 square feet, the predicted selling price is ____

thousand dollars.

(Round to three decimal places as needed.)

E. It is not appropriate to interpret the slope.

(g) Is it reasonable to interpret the y-intercept? Why? Select the correct choice below and, if necessary, fill in the answer box to complete your choice.

A. No—a house of ____ square feet is not possible.

(Type an integer or a simplified fraction.)

B.Yes—a house of ____ square feet is possible and within the scope of the model.

(Type an integer or a simplified fraction.)

C.No—a house of ____ square feet is not possible and outside the scope of the model.

(Type an integer or a simplified fraction.)

D. No—a house of ____ square feet is outside the scope of the model

(Type an integer or a simplified fraction.)

E.More information about the houses is necessary before deciding.

One home that is 1414 square feet is sold for $270 thousand. Is this home's price above or below average for a home of this size?

The home's price is above or below the average price. The average price of a home that is 1414 square feet is ____ thousand.

(Round to the nearest whole number as needed.)

Square Footage, x
Selling Price ($000s), y 3
2208
380.4
3239
384.6
1113
187.8
2019
344.8
2970
599.2
2636
4012
349.9
612.2
2203
375.7
2608
424.8
1632
286.2
1816
275.6
3813
689.5

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