The Excel file for this assignment contains a database with information about the tax assessment value assigned to medical office buildings in a city. The following is a list of the variables in the database: FloorArea: square feet of floor space Offices: number of offices in the building Entrances: number of customer entrances Age: age of the building (years) AssessedValue: tax assessment value (thousands of dollars) Use the data to construct a model that predicts the tax assessment value assigned to medical office buildings with specific characteristics. Construct a scatter plot in Excel with FloorArea as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables? Use Excel’s Analysis ToolPak to conduct a regression analysis of FloorArea and AssessmentValue. Is FloorArea a significant predictor of AssessmentValue? Construct a scatter plot in Excel with Age as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables? Use Excel’s Analysis ToolPak to conduct a regression analysis of Age and Assessment Value. Is Age a significant predictor of AssessmentValue? FloorArea (Sq.Ft.) Offices Entrances Age AssessedValue ($'000) 4790 4 2 8 1796 4720 3 2 12 1544 5940 4 2 2 2094 5720 4 2 34 1968 3660 3 2 38 1567 5000 4 2 31 1878 2990 2 1 19 949 2610 2 1 48 910 5650 4 2 42 1774 3570 2 1 4 1187 2930 3 2 15 1113 1280 2 1 31 671 4880 3 2 42 1678 1620 1 2 35 710 1820 2 1 17 678 4530 2 2 5 1585 2570 2 1 13 842 4690 2 2 45 1539 1280 1 1 45 433 4100 3 1 27 1268 3530 2 2 41 1251 3660 2 2 33 1094 1110 1 2 50 638 2670 2 2 39 999 1100 1 1 20 653 5810 4 3 17 1914 2560 2 2 24 772 2340 3 1 5 890 3690 2 2 15 1282 3580 3 2 27 1264 3610 2 1 8 1162 3960 3 2 17 1447

Q: tind ten 20. %3D 40

A: In this question, the concept of the differential equation is applied. Differential Equation A…

Q: Below are the commodity data. Determine (a) Laspeyer's price index and Laspeyer's quantity index.…

A:

Q: Year 1991 1991 1991 1991 1992 Quarter 234 2 3 Revenue 9 281 10 340 10 628 13 639 11 649

A: Given: The revenue data is as shown here Revenue     9281 10340 10628 13639 11649…

Q: Create a set of data that is represented by the box plot below.

A: The above box-plot is drawn such that the first quartile and the Median values are equal

Q: 6. A class for engineers consists of 25 industrial, 10 mechanical, 10 electrical and 8 civil…

A: The answer is attached below,

Q: The most popular colors for compact and sports cars in a recent year aregiven in the table. See…

A: Solution:We are given the below data:

Q: ) Use the data to develop an estimated regression equation that could be used to predict the annual…

A:

Q: Provide an appropriate chart for the following data

A:

Q: An business reviews data on the daily amount of calls it receives. Are the data discrete or…

A: Discrete Variable: A variable which assumes only specified values within a given range is a discrete…

Q: 10 The box plots summarize the high temperatures recorded in two different cities. The temperature…

A:

Q: 1. Let W be a random variable giving the number of heads minus the number of tails in three tosses…

A: Probability: The probability tells the chance or possibility of an incident whose outcome is not…

Q: w shows the speed (in gigaflops using a test package) of several processors. It is intended to be…

A: The bar chart is one of the most basic chart styles and one of your best resources  for…

Q: Cu Absorbance 1 Absorbance 2 Absorbance 3 Mean + SD standard (ppm) 1 0.0521 0.0520 0.0522 2 0.1011…

A: Measure of central tendency explains the average measurement of observations. Central tendency…

Q: Construct a scatterplot and identify the mathematical model that best fits the data. Assume that the…

A: Given information: The data is given below, x y 4321 341.3 5012 391.5 5239 399.6 5366…

Q: 2. A shipment of 7 television sets contain 2 defective sets. A hotel makes a random purchase of 3 of…

A: I solved exactly first question because of bartleby policy if you want more please upload…

Q: In poker hand consisting of 5 cards, find the probability of holding 2 aces and 3 jack

A: Given Number of aces=4 Number of jacks=4 Total number of cards=52

Q: In 2011 home prices and mortgage rates dropped so low that in a number of cities the monthly cost of…

A: a) The data inserted in EXCEL is defined below:

Q: A. The data below shows the basic literacy rates in the Philippines from 1990-2008 by gender.…

A: Textual Presentation The discussion about the presentation of data starts off with it’s most raw and…

Q: 4. Remember that survey question you wrote? Take the class responses to your survey as data related…

A: Correlation coefficient is used to measure the strength of the linear relationship between the two…

Q: The accompanying table represents the average new-home size, in square feet, in a country over…

A: The data set shows the year and average of new-home size.

Q: What level of data does the example​ represent?   Credit Card Number

A: Their are 4 level of data.  1. Nominal  2. Ordinal  3. Ratio 4. Interval The nominal data is…

Q: A cross-sectional study examined the association between the quality of physical health (dependent…

A: Introduction: It is required to interpret the model estimates for age and gender, while using the…

Q: 2. The following data shows the ice cream consumption. The ice cream consumption in in pints per…

A: The given data is Consumption Price 0.386 1.35 0.474 1.5 0.393 1.39 0.425 1.49 0.406…

Q: Data Set: No Drug Drug 180 188 200 201 190 197 170 174 210 215 195 194 A new drug is being sold to…

A: Given that  :   A new drug is being sold to treat anxiety which has a side effect. Patients blood…

Q: List the sample space that can be obtained from the following; a. the set of integers between 1 and…

A: Givena)The set of intergers between 1 and 50 divisible by 5

Q: 9. The probability that an American industry will locate in Shanghai, China is 0.7. The probability…

A: Given P(Shanghai) = 0.7 P(Beijing) = 0.4 P(Either Shanghai or Beijing) = 0.8

Q: 10. In a poker hand consisting of 5 cards, find the probability of holding а. 3 асes b. 4 hearts and…

A: For the given data Find the probabilities

Q: 5. A pair of dice is tossed. Find the probability of getting a total of 8.

A:

Q: Data: 3.5, 3.2, 3.1, 3.5, 3.6, 3.2, 3.4, 2.9, 4.1, 2.6, 3.3, 3.5, 3.9, 3.8, 3.7, 3.4, 3.6, 3.5, 3.5,…

A: At first rearrange the data then create the frequency table.

Q: State whether the data discribed below are discrete or continuous, and explain why. The number of…

A: Discrete data can only take specific numeric values (whole numbers) and are countable. Continuous…

Q: Obtain the descriptive statistics for each type of fertilizer.

A: Given data:   L1 L2 L3 L4 L5 P1 63.3 55.8 62.9 63.8 70.9 P2 62.3 68.7 67.8 66.2 75.4 P3…

Q: An insurance company hires an actuary to determine whether the number of hours of safety driving…

A: Solution:  The explanatory variable is number of hours of safety driving classes.

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.