The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper. r = Property 1 r = 2 3 4 5 6 7 8 9 10 Sale Price (millions of dollars) 10.5 2.5 30.6 1.9 19.9 7.9 10.2 6.8 5.9 4.6 USE SALT Size (thousands of sq. ft.) 2,165 752 2,423 225 3,916 2,865 1,699 1,047 1,107 404 Land-to- Building Ratio 1.9 3.6 3.5 4.6 1.6 2.4 3.2 4.7 7.7 (a) Calculate the value of the correlation coefficient between sale price (in millions of dollars) and size (in thousands of square feet). (Round your answer to four decimal places.) 17.1 (b) Calculate the value of the correlation coefficient between sale price (in millions of dollars) and land-to-building ratio. (Round your answer to four decimal places.) (c) If you wanted to predict sale price and you could use either size or land-to-building ratio as the basis for making predictions, which would you use? O size O land-to-building ratio (d) Based on your choice in part (c), find the equation of the least-squares line you would use for predicting y = sale price (in millions of dollars). (Leave the data in the original units. Round your answers to four decimal places.) ŷ = ∙(1
The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper. r = Property 1 r = 2 3 4 5 6 7 8 9 10 Sale Price (millions of dollars) 10.5 2.5 30.6 1.9 19.9 7.9 10.2 6.8 5.9 4.6 USE SALT Size (thousands of sq. ft.) 2,165 752 2,423 225 3,916 2,865 1,699 1,047 1,107 404 Land-to- Building Ratio 1.9 3.6 3.5 4.6 1.6 2.4 3.2 4.7 7.7 (a) Calculate the value of the correlation coefficient between sale price (in millions of dollars) and size (in thousands of square feet). (Round your answer to four decimal places.) 17.1 (b) Calculate the value of the correlation coefficient between sale price (in millions of dollars) and land-to-building ratio. (Round your answer to four decimal places.) (c) If you wanted to predict sale price and you could use either size or land-to-building ratio as the basis for making predictions, which would you use? O size O land-to-building ratio (d) Based on your choice in part (c), find the equation of the least-squares line you would use for predicting y = sale price (in millions of dollars). (Leave the data in the original units. Round your answers to four decimal places.) ŷ = ∙(1
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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Transcribed Image Text:The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper.
r =
Property
r =
1
2
3
size
4
5
6
7
8
9
10
Sale Price
(millions
of dollars)
10.5
2.5
30.6
1.9
19.9
7.9
+
10.2
6.8
5.9
4.6
USE SALT
Size
(thousands
of sq. ft.)
2,165
O land-to-building ratio
752
2,423
225
3,916
2,865
1,699
1,047
1,107
404
Land-to-
Building
Ratio
1.9
3.6
3.5
4.6
1.6
2.4
(a) Calculate the value of the correlation coefficient between sale price (in millions of dollars) and size (in thousands of square feet). (Round your
answer to four decimal places.)
3.2
4.7
(b) Calculate the value of the correlation coefficient between sale price (in millions of dollars) and land-to-building ratio. (Round
decimal places.)
7.7
17.1
(c) If you wanted to predict sale price and you could use either size or land-to-building ratio as the basis for making predictions, which would you
use?
our answer to four
(d) Based on your choice in part (c), find the equation of the least-squares line you would use for predicting y = sale price (in millions of dollars).
(Leave the data in the original units. Round your answers to four decimal places.)
ŷ =
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