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
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.
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
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