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se and selling price for fifteen. Size (1000s sq. ft

se and selling price for fifteen. Size (1000s sq. ft

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). Size Selling Price ($1000s) (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/) d. Use the estimated regression equation to predict the selling price of a 2000 square foot house in Winston Salem, North Carolina. e. Do you believe the estimated regression equation developed in part (b) will provide a good prediction of selling price of a particular house in Winston Salem, North Carolina? Explain. f. Would you be comfortable using the estimated regression equation developed in part (b) to predict the selling price of a particular house in Seattle, Washington? Why or why not?
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). Size Selling Price ($1000s) (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/) d. Use the estimated regression equation to predict the selling price of a 2000 square foot house in Winston Salem, North Carolina. e. Do you believe the estimated regression equation developed in part (b) will provide a good prediction of selling price of a particular house in Winston Salem, North Carolina? Explain. f. Would you be comfortable using the estimated regression equation developed in part (b) to predict the selling price of a particular house in Seattle, Washington? Why or why not?
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