Homework Help is Here – Start Your Trial Now!
Math
Statistics
The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper. Land-to- Building Ratio Sale Price (millions Property of dollars) 1 "- 2 3 4 5 6 7 8 9 10 10.5 2.5 30.4 1.7 19.9 7.9 10.2 6.8 5.9 4.6 LUSE SALT Size (thousands of sq. ft.) 2,167 752 2,423 Oland-to-building ratio 223 3,918 2,865 1,699 1,047 1,107 406 1.9 3.4 3.7 4.6 1.6 2.4 3.2 4.9 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.) 17.3 (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? Ⓒsize (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.) +0.0053 Jx )x

The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper. Land-to- Building Ratio Sale Price (millions Property of dollars) 1 "- 2 3 4 5 6 7 8 9 10 10.5 2.5 30.4 1.7 19.9 7.9 10.2 6.8 5.9 4.6 LUSE SALT Size (thousands of sq. ft.) 2,167 752 2,423 Oland-to-building ratio 223 3,918 2,865 1,699 1,047 1,107 406 1.9 3.4 3.7 4.6 1.6 2.4 3.2 4.9 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.) 17.3 (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? Ⓒsize (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.) +0.0053 Jx )x

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
See similar textbooks
icon
Related questions
Question
100%
The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper. Land-to- Building Ratio Sale Price (millions Property of dollars) 10.5 r= 1 2 3 4 5 6 7 8 9 10 2.5 30.4 1.7 19.9 7.9 10.2 6.8 5.9 4.6 I USE SALT Size (thousands of sq. ft.) 2,167 752 2,423 223 3,918 2,865 1,699 1,047 1,107 406 1.9 3.4 3.7 4.6 1.6 2.4 3.2 4.9 7.7 17.3 (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.) (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? Ⓒ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 = | + 0.0053 1x )x
Transcribed Image Text:The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper. Land-to- Building Ratio Sale Price (millions Property of dollars) 10.5 r= 1 2 3 4 5 6 7 8 9 10 2.5 30.4 1.7 19.9 7.9 10.2 6.8 5.9 4.6 I USE SALT Size (thousands of sq. ft.) 2,167 752 2,423 223 3,918 2,865 1,699 1,047 1,107 406 1.9 3.4 3.7 4.6 1.6 2.4 3.2 4.9 7.7 17.3 (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.) (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? Ⓒ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 = | + 0.0053 1x )x
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
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 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…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
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
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS