1. Fill in the blank: For these data, distances from the beach that are greater than the mean of the distances from the beach tend to be paired with house prices that are Choose one the mean of the house prices. 2. According to the regression equation, for an increase of one mile in distance from the beach, there is a corresponding decrease of how many thousand dollars in house price? 3. From the regression equation, what is the predicted house price (in thousands of dollars) when the distance (in miles) from the beach is 10.0 miles? (Round your answer to at least one decimal place.) 4. What was the observed house price (in thousands of dollars) when the distance (in miles) from the beach was 10.0 miles?
1. Fill in the blank: For these data, distances from the beach that are greater than the mean of the distances from the beach tend to be paired with house prices that are Choose one the mean of the house prices. 2. According to the regression equation, for an increase of one mile in distance from the beach, there is a corresponding decrease of how many thousand dollars in house price? 3. From the regression equation, what is the predicted house price (in thousands of dollars) when the distance (in miles) from the beach is 10.0 miles? (Round your answer to at least one decimal place.) 4. What was the observed house price (in thousands of dollars) when the distance (in miles) from the beach was 10.0 miles?
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section: Chapter Questions
Problem 10T: Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s...
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Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Question
Transcribed Image Text:1. Fill in the blank: For these data, distances from the beach that are
greater than the mean of the distances from the beach tend to be
paired with house prices that are
Choose one
the mean of the house prices.
2. According to the regression equation, for an increase of one mile in
distance from the beach, there is a corresponding decrease of how
many thousand dollars in house price?
3. From the regression equation, what is the predicted house price (in
thousands of dollars) when the distance (in miles) from the beach is
10.0 miles? (Round your answer to at least one decimal place.)
4. What was the observed house price (in thousands of dollars) when
the distance (in miles) from the beach was 10.0 miles?
Transcribed Image Text:With the aim of predicting the selling price of a house in Newburg Park,
Florida, from the distance between the house and the beach, we might
examine a regression equation relating the two variables. In the table
below, the distance from the beach (x, in miles) and selling price (y, in
thousands of dollars) for each of a sample of fifteen homes sold in
Newburg Park in the past year are given. The least-squares regression
equation relating the two variables is î-310.94 – 6.27x. The line having this
equation is plotted in Figure 1.
Selling price, y
(in thousands of
dollars)
Distance from
the beach, x
(in miles)
8.6
290.7
12.8
198.8
10.0
230.7
350
7.6
272.4
3.6
261.5
300
10.4
274.8
12.5
267.2
250
15.1
183.6
18.8
225.6
200
7.6
244.0
4.3
314.0
150
8.2
220.8
6.1
311.1
12.0
234.1
Figure 1
10.6
205.8
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Based on the above information, answer the following:
1. Fill in the blank: For these data, distances from the beach that are
greater than the mean of the distances from the beach tend to be
paired with house prices that are
Choose one
the mean of the house prices.
2. According to the regression equation, for an increase of one mile in
distance from the beach, there is a corresponding decrease of how
many thousand dollars in house price?
3. From the regression equation, what is the predicted house price (in
thousands of dollars) when the distance (in miles) from the beach is U
10.0 miles? (Round your answer to at least one decimal place.)
4. What was the observed house price (in thousands of dollars) when In
the distance (in miles) from the beach was 10.0 miles?
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