The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper. Property Sale Price (millions of dollars) Size (thousands of sq. ft.) Land-to- Building Ratio 1 10.5 2167 2.1 2 2.6 750 3.4 3 30.6 2421 3.7 4 1.9 223 4.7 5 20.1 3916 1.7 6 8.1 2865 2.3 7 10.2 1699 3.2 8 6.6 1047 4.9 9 5.7 1107 7.5 10 4.4 405 17.3 (a) Calculate the value of the correlation coefficient between sale price and size. (Give the answer to three decimal places.) r = (b) Calculate the value of the correlation coefficient between sale price and land-to-building ratio. (Give the answer to three decimal places.) r = (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? 1 - Size 2 - Land-to-building ratio (choose either 1 or 2 as the answer). (d) Based on your choice in Part (c), find the equation of the least-squares regression line you would use for predicting y = sale price. (Give answers to three decimal places.) y = (________________) + (___________________)x
The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper. Property Sale Price (millions of dollars) Size (thousands of sq. ft.) Land-to- Building Ratio 1 10.5 2167 2.1 2 2.6 750 3.4 3 30.6 2421 3.7 4 1.9 223 4.7 5 20.1 3916 1.7 6 8.1 2865 2.3 7 10.2 1699 3.2 8 6.6 1047 4.9 9 5.7 1107 7.5 10 4.4 405 17.3 (a) Calculate the value of the correlation coefficient between sale price and size. (Give the answer to three decimal places.) r = (b) Calculate the value of the correlation coefficient between sale price and land-to-building ratio. (Give the answer to three decimal places.) r = (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? 1 - Size 2 - Land-to-building ratio (choose either 1 or 2 as the answer). (d) Based on your choice in Part (c), find the equation of the least-squares regression line you would use for predicting y = sale price. (Give answers to three decimal places.) y = (________________) + (___________________)x
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper.
| Property | Sale Price (millions of dollars) |
Size (thousands of sq. ft.) |
Land-to- Building Ratio |
| 1 | 10.5 | 2167 | 2.1 |
| 2 | 2.6 | 750 | 3.4 |
| 3 | 30.6 | 2421 | 3.7 |
| 4 | 1.9 | 223 | 4.7 |
| 5 | 20.1 | 3916 | 1.7 |
| 6 | 8.1 | 2865 | 2.3 |
| 7 | 10.2 | 1699 | 3.2 |
| 8 | 6.6 | 1047 | 4.9 |
| 9 | 5.7 | 1107 | 7.5 |
| 10 | 4.4 | 405 | 17.3 |
(a) Calculate the value of the correlation coefficient between sale price and size. (Give the answer to three decimal places.)
r =
(b) Calculate the value of the correlation coefficient between sale price and land-to-building ratio. (Give the answer to three decimal places.)
r =
r =
(b) Calculate the value of the correlation coefficient between sale price and land-to-building ratio. (Give the answer to three decimal places.)
r =
(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?
(d) Based on your choice in Part (c), find the equation of the least-squares regression line you would use for predicting y = sale price. (Give answers to three decimal places.)
y = (________________) + (___________________)x
1 - Size
2 - Land-to-building ratio
(choose either 1 or 2 as the answer).
(d) Based on your choice in Part (c), find the equation of the least-squares regression line you would use for predicting y = sale price. (Give answers to three decimal places.)
y = (________________) + (___________________)x
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