Statistics: The Art and Science of Learning from Data (4th Edition)
4th Edition
ISBN: 9780321997838
Author: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg
Publisher: PEARSON
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Textbook Question
Chapter 3.3, Problem 26PB
Home selling prices The House Selling Prices FL data file on the book’s website lists selling prices of homes in Gainesville, Florida, in 2003 and some predictors for the selling price. For the response variable y = selling price in thousands of dollars and the explanatory variable x = size of house in thousands of square feet,
- a. How much do you predict a house would sell for if it has (i) 2,000 square feet, (ii) 3,000 square feet?
- b. Using results in part a, explain how to interpret the slope.
- c. Is the
correlation between these variables positive or negative? Why? - d. One home that is 3000 square feet sold for $300,000. Find the residual, and interpret.
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Chapter 3 Solutions
Statistics: The Art and Science of Learning from Data (4th Edition)
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