Suppose the following data were collected relating the selling price of a house to square footage and whether or not the house is made out of brick. Use statistical software to find the regression equation. Is there enough evidence to support the claim that on average brick houses are more expensive than other types of houses at the 0.010.01 level of significance? If yes, type the regression equation in the spaces provided with answers rounded to two decimal places. Else, select "There is not enough evidence." Price Sqft Brick (1 if brick, 0 if otherwise
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Suppose the following data were collected relating the selling price of a house to square footage and whether or not the house is made out of brick. Use statistical software to find the regression equation. Is there enough evidence to support the claim that on average brick houses are more expensive than other types of houses at the 0.010.01 level of significance? If yes, type the regression equation in the spaces provided with answers rounded to two decimal places. Else, select "There is not enough evidence."
| Price | Sqft | Brick (1 if brick, 0 if otherwise |
|---|
Selecting a checkbox will replace the entered answer value(s) with the checkbox value. If the checkbox is not selected, the entered answer is used.
PRICEi=_______+______ SQFTi +_______ BRICKi+ei. or is There is not enough evidence
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