Question 4. The following data represent the square footage and rent for apartments in the borough of Queens and Nassau Country New York. (using Excel) Queens (New York City) Square Footage, x Rent per Month, y 650 1215 2000 1655 1250 1805 500 588 1000 688 825 460 1259 650 560 1073 1452 1305 2700 1200 1250 2350 3300 3100 Nassau Country (Long Island) Square Footage, x Rent per Month, y 110 1875 588 1075 1250 1775 556 1050 825 743 660 975 1429 800 1906 1077 1300 1475 1315 1400 1900 1650 4625 1395 Use Queens data to answer the following questions: a) Compute and interpret R². b) Plot the residuals against square footage. c) For the graph obtained in part (b), is a linear model appropriate? Explain.

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Question 4.
The following data represent the square footage and rent for apartments in
the borough of Queens and Nassau Country New York. (using Excel)
Queens
(New York City)
Square Footage, x Rent per Month, y
650
1215
2000
1655
1250
1805
2700
1200
1250
2350
3300
3100
500
588
1000
688
825
460
1259
650
560
1073
1452
1305
Square Footage, x Rent per Month, y
110
1875
588
1250
556
825
743
660
975
1429
Nassau Country
(Long Island)
800
1906
1077
1075
1775
1050
1300
1475
1315
1400
1900
1650
4625
1395
Use Queens data to answer the following questions:
a) Compute and interpret R².
b) Plot the residuals against square footage.
c) For the graph obtained in part (b), is a linear model appropriate?
Explain.
d) Are there any outliers or influential observations? (You should explain
all the processes and draw any diagram that is needed with Excel)
Transcribed Image Text:Question 4. The following data represent the square footage and rent for apartments in the borough of Queens and Nassau Country New York. (using Excel) Queens (New York City) Square Footage, x Rent per Month, y 650 1215 2000 1655 1250 1805 2700 1200 1250 2350 3300 3100 500 588 1000 688 825 460 1259 650 560 1073 1452 1305 Square Footage, x Rent per Month, y 110 1875 588 1250 556 825 743 660 975 1429 Nassau Country (Long Island) 800 1906 1077 1075 1775 1050 1300 1475 1315 1400 1900 1650 4625 1395 Use Queens data to answer the following questions: a) Compute and interpret R². b) Plot the residuals against square footage. c) For the graph obtained in part (b), is a linear model appropriate? Explain. d) Are there any outliers or influential observations? (You should explain all the processes and draw any diagram that is needed with Excel)
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