The appraisal of a warehouse can appear straightforward compared to other appraisal assignments. A warehouse appraisal involves comparing a building that is primarily an open shell to other such buildings. However, there are still a number of warehouse attributes that are plausibly related to appraised value. Consider the accompanying data on truss height (ft), which determines how high stored goods can be stacked, and sale price ($) per square foot. 15 15 16 Height 12 14 14 22 Price 35.54 37.83 36.90 40.02 38.00 37.52 41.02 48.49 18 22 24 47.02 47.50 Height 24 26 26 27 28 30 30 33 36 Price 46.21 50.34 49.15 48.05 50.88 54.80 54.32 57.18 57.45 (a) Estimate the true average change in sale price associated with a one-foot increase in truss height, and do so in a way that conveys information about the precision of estimation. (Use a 95% CI. Round your answers $0.888 $ 1.086 ]) three decimal places.) (b) Estimate the true average sale price for all warehouses having a truss height of 25 ft, and do so in a way that conveys information about the precision of estimation. (Use a 95% CI. Round your answers to three decimal places.) dollars per square foot (c) Predict the sale price for a single warehouse whose truss height is 25 ft, and do so in a way that conveys information about the precision of prediction. (Use a 95% PI. Round your answers to three decimal places.) ) dollars per square foot
The appraisal of a warehouse can appear straightforward compared to other appraisal assignments. A warehouse appraisal involves comparing a building that is primarily an open shell to other such buildings. However, there are still a number of warehouse attributes that are plausibly related to appraised value. Consider the accompanying data on truss height (ft), which determines how high stored goods can be stacked, and sale price ($) per square foot. 15 15 16 Height 12 14 14 22 Price 35.54 37.83 36.90 40.02 38.00 37.52 41.02 48.49 18 22 24 47.02 47.50 Height 24 26 26 27 28 30 30 33 36 Price 46.21 50.34 49.15 48.05 50.88 54.80 54.32 57.18 57.45 (a) Estimate the true average change in sale price associated with a one-foot increase in truss height, and do so in a way that conveys information about the precision of estimation. (Use a 95% CI. Round your answers $0.888 $ 1.086 ]) three decimal places.) (b) Estimate the true average sale price for all warehouses having a truss height of 25 ft, and do so in a way that conveys information about the precision of estimation. (Use a 95% CI. Round your answers to three decimal places.) dollars per square foot (c) Predict the sale price for a single warehouse whose truss height is 25 ft, and do so in a way that conveys information about the precision of prediction. (Use a 95% PI. Round your answers to three decimal places.) ) dollars per square foot
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
100%
b and c please
Transcribed Image Text:The appraisal of a warehouse can appear straightforward compared to other appraisal assignments. A warehouse appraisal involves comparing a building that is primarily an open shell to other such buildings. However, there are still a number of warehouse attributes that are plausibly related to
appraised value. Consider the accompanying data on truss height (ft), which determines how high stored goods can be stacked, and sale price ($) per square foot.
Height 12
14
14
15
15
16
18
24
Price 35.54 37.83 36.90 40.02 38.00 37.52 41.02 48.49 47.02 47.50
Height 24
Price
22
22
26
26
27
28
30
30
36
46.21 50.34 49.15 48.05 50.88 54.80 54.32 57.18 57.45
33
(a) Estimate the true average change in sale price associated with a one-foot increase in truss height, and do so in a way that conveys information about the precision of estimation. (Use a 95% CI. Round your answers to three decimal places.)
$ 0.888
$ 1.086
(b) Estimate the true average sale price for all warehouses having a truss height of 25 ft, and do so in a way that conveys information about the precision of estimation. (Use a 95% CI. Round your answers to three decimal places.)
dollars per square foot
(c) Predict the sale price for a single warehouse whose truss height is 25 ft, and do so in a way that conveys information about the precision of prediction. (Use a 95% PI. Round your answers to three decimal places.)
dollars per square foot
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 8 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman