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. EEE Click the icon to view the housing data. (a) Which variable is the explanatory variable? O Square Footage Data Table O Selling Price (b) Draw a scatter diagram of the data. Choose the correct scatter diagram below. TT Selling Price ($000s), y Square Footage, x O B. O C. O D. O A. 2183 376.4 3234 381.8 Ay 750 750- 4500- 4500 1108 186.8 2007 342.9 3061 613.7 2720 361.6 1000- 1000 4171 636.8 1000 150 150- 1000 150+ 1000 750 4500 4500 4500 385.3 2264 2724 443 (c) Determine the linear correlation coefficient between square footage and asking price. 1671 292.4 1699 257.6 r 3924 707.9 (Round to three decimal places as needed.) (d) Is there a linear relation between square footage and asking price? Print Done No O Yes (e) Find the least-squares regression line treating square footage as the explanatory variable. y =+D (Round to two decimal places as needed.) (f) Interpret the slope. Select the correct choice below and, if necessary, fill in the answer box to complete your choice O A. For every additional thousand dollars in selling price, the square footage increases by square feet, on average. (Round to two decimal places as needed.) O B. For every additional square foot, the selling price increases by thousand dollars, on average. (Round to two decimal places as needed.) O C. For a house that is sold for $0, the predicted square footage is (Round to two decimal places as needed.) O D. For a house that is 0 square feet, the predicted selling price is thousand dollars. (Round to two decimal places as needed.) O 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. O A. Yes-a house of square feet is possible and within the scope of the model. (Type an integer or a simplified fraction.) O B. No-a house of square feet is not possible and outside the scope of the model. (Type an integer or a simplified fraction.) O C. No-a house of Square feet is outside the scope of the model (Type an integer or a simplified fraction.) O D. No-a house of square feet is not possible. (Type an integer or a simplified fraction.) O E. More information about the houses is necessary before deciding. (h) One home that is 1427 square feet is sold for $215 thousand. Is this home's price above or below average for a home of this size? The home's price is the average price. The average price of a home that is 1427 square feet is $thousand. (Round to the nearest whole number as needed.) Click to select your answer(s)

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. EEE Click the icon to view the housing data. (a) Which variable is the explanatory variable? O Square Footage Data Table O Selling Price (b) Draw a scatter diagram of the data. Choose the correct scatter diagram below. TT Selling Price ($000s), y Square Footage, x O B. O C. O D. O A. 2183 376.4 3234 381.8 Ay 750 750- 4500- 4500 1108 186.8 2007 342.9 3061 613.7 2720 361.6 1000- 1000 4171 636.8 1000 150 150- 1000 150+ 1000 750 4500 4500 4500 385.3 2264 2724 443 (c) Determine the linear correlation coefficient between square footage and asking price. 1671 292.4 1699 257.6 r 3924 707.9 (Round to three decimal places as needed.) (d) Is there a linear relation between square footage and asking price? Print Done No O Yes (e) Find the least-squares regression line treating square footage as the explanatory variable. y =+D (Round to two decimal places as needed.) (f) Interpret the slope. Select the correct choice below and, if necessary, fill in the answer box to complete your choice O A. For every additional thousand dollars in selling price, the square footage increases by square feet, on average. (Round to two decimal places as needed.) O B. For every additional square foot, the selling price increases by thousand dollars, on average. (Round to two decimal places as needed.) O C. For a house that is sold for $0, the predicted square footage is (Round to two decimal places as needed.) O D. For a house that is 0 square feet, the predicted selling price is thousand dollars. (Round to two decimal places as needed.) O 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. O A. Yes-a house of square feet is possible and within the scope of the model. (Type an integer or a simplified fraction.) O B. No-a house of square feet is not possible and outside the scope of the model. (Type an integer or a simplified fraction.) O C. No-a house of Square feet is outside the scope of the model (Type an integer or a simplified fraction.) O D. No-a house of square feet is not possible. (Type an integer or a simplified fraction.) O E. More information about the houses is necessary before deciding. (h) One home that is 1427 square feet is sold for $215 thousand. Is this home's price above or below average for a home of this size? The home's price is the average price. The average price of a home that is 1427 square feet is $thousand. (Round to the nearest whole number as needed.) Click to select your answer(s)

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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