Top Posters
Since Sunday
8
5
z
4
n
4
t
4
3
k
3
x
3
r
3
m
3
j
3
c
3
Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
New Topic  
gisellerol gisellerol
wrote...
Go to Answer
Posts: 169
Rep: 0 0
4 months ago
Use the following to answer the questions below:

A quantitatively savvy, young couple is interested in purchasing a home in northern New York. They collected data on 48 houses that had recently sold in the area. They want to predict the selling price of homes (in thousands of dollars) based on the size of the home (in square feet).

The regression equation is Price (in thousands) = 17.1 + 0.0643 Size (sq. ft.)

PredictorCoefSE CoefTP
Constant17.0624.590.690.491
Size (sq. ft.)0.064270.012245.250.000
S = 48.5733   R-Sq = 37.5%        R-Sq(adj) = 36.1%

Predicted Values for New Observations

Size (sq. ft.)FitSE Fit95% CI95% PI
2000145.617.07(131.38, 159.83)(46.80, 244.41)

A scatterplot with a regression line shows the relationship between size and price. The horizontal axis is labeled, Size (square feet) and has markings from 1000 to 3500 in increments of 500. The vertical axis is labeled, Price (in thousands) and has markings from 100 to 350 in increments of 50. A regression line starts from (900, 80), increases toward the right, and ends at (3500, 230). The dots are randomly scattered, such that a few dots lie above the regression line, a few dots lie below the regression line, and a few dots lie on the regression line. The dots are plotted between the points, 900 to 3500 on the horizontal axis and between the points, 40 to 340 on the vertical axis. The concentration of the dots is more between the points 900 and 3000 on the horizontal axis and between the points, 40 and 250 on the vertical axis. Two outliers are at the point, (3250, 345), and (3470, 160). All values are approximate.


What are the degrees of freedom for constructing a confidence interval for, or performing a test about, the population slope?

▸ 47

▸ 46

▸ 45

▸ 48
Textbook 
Statistics: Unlocking the Power of Data

Statistics: Unlocking the Power of Data


Edition: 3rd
Authors:
Read 45 times
1 Reply
Replies
Answer verified by a subject expert
hizzy117hizzy117
wrote...
#1
Posts: 158
Rep: 0 0
4 months ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

gisellerol Author
wrote...

4 months ago
Thanks for your help!!
sadiewolf
wrote...

Yesterday
Thank you, thank you, thank you!
riptide
wrote...

2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  887 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 680
  
 183
  
 979
Your Opinion
How often do you eat-out per week?
Votes: 81
Previous poll results: Which 'study break' activity do you find most distracting?