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A researcher is analyzing the relationship between various variables in housing data for 32 cities: median list prices of single family homes, condominium or co-ops, all homes, median household income, unemployment rate, and population. What is the regression equation for the model that predicts the list price of all homes using unemployment rate as an explanatory variable? Y^=____________X+(_____________)   What is the interpretation of the slope? (INCREASE OR DECREASE)  in the list price of all homes as unemployment rate increases.    What is the interpretation of the intercept?  (LIST PRICE OF ALL HOMES WHEN UNEMPLOYMENT RATE IS ZERO,  NO PRATICAL INTERCEPTION,  UNEMPLOYMENT RATE WHEN LIST PRICE OF ALL HOMES IS ZERO )

A researcher is analyzing the relationship between various variables in housing data for 32 cities: median list prices of single family homes, condominium or co-ops, all homes, median household income, unemployment rate, and population. What is the regression equation for the model that predicts the list price of all homes using unemployment rate as an explanatory variable? Y^=____________X+(_____________)   What is the interpretation of the slope? (INCREASE OR DECREASE)  in the list price of all homes as unemployment rate increases.    What is the interpretation of the intercept?  (LIST PRICE OF ALL HOMES WHEN UNEMPLOYMENT RATE IS ZERO,  NO PRATICAL INTERCEPTION,  UNEMPLOYMENT RATE WHEN LIST PRICE OF ALL HOMES IS ZERO )

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.8: Probability
Problem 32E
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A researcher is analyzing the relationship between various variables in housing data for 32 cities: median list prices of single family homes, condominium or co-ops, all homes, median household income, unemployment rate, and population.
What is the regression equation for the model that predicts the list price of all homes using unemployment rate as an explanatory variable?
Y^=____________X+(_____________)
 
What is the interpretation of the slope?
(INCREASE OR DECREASE)  in the list price of all homes as unemployment rate increases. 
 
What is the interpretation of the intercept?  (LIST PRICE OF ALL HOMES WHEN UNEMPLOYMENT RATE IS ZERO,  NO PRATICAL INTERCEPTION,  UNEMPLOYMENT RATE WHEN LIST PRICE OF ALL HOMES IS ZERO ) 
                                                                                                     
 
H 1 City 2 Atlanta, GA Single family Condo or co- All homes Household ir Unemploymi Population 403,000 298,000 317,000 55,279 8.5 498044 3 Minneapolis 4 Cincinatti, O 5 San Diego, C 6 Reno, NV 7 Portland, OR 8 Sioux Falls, S 9 Kansas City. 10 Chicago, IL 11 Savannah,G 331,000 291,000 323,000 58,993 38,545 7.5 425403 208,000 211,000 191,000 10.1 302605 1426000 829,000 450,000 536,000 725,000 75,456 8.8 247,000 411,000 441,000 54,916 6.9 250998 518,000 514,000 65,740 59,017 8.9 653115 257,000 248,000 175,000 219,000 3.4 181883 184,000 187,000 52,405 7.5 491918 297,000 292,000 210,000 357,000 55,198 13.8 2706000 206,000 203,000 41,093 8.8 145862 12 Bloomington 261,000 890,000 188,000 573,000 248,000 34,435 85,562 4.7 84981 13 Seattle, WA 837,000 6.6 744955 14 Concord, NH 43412 297,000 172,000 178,000 130,000 284,000 176,000 62,967 5.2 15 Augusta, ME 16 Des Moines, 17 Lincoln, NB 18 Nampa, ID 19 Draper, UT 20 Houston, TX 21 Memphis, TN 22 Waco, TX 23 Jackson, MS 24 Tampa, FL 25 Atlantic City, 40,340 5.4 18681 162,000 228,000 298,000 186,000 186,000 258,000 165,000 225,000 305,000 52,251 6.4 216853 55,224 3.2 287401 44,691 115,618 6.4 96252 613,000 418,000 599,000 4.8 48319 9.8 2326000 246,000 122,000 177,000 170,000 209,000 51,140 112,000 39,108 12.1 650618 170,000 127,000 164,000 37,735 7.0 138183 68,438 121,000 48,579 37,563 9.3 164422 330,000 50,909 245,000 112,000 289,000 6.9 392890 134,000 123,000 27,786 15.8 37804 26 Bozeman, M 535,000 343,000 499,000 51,896 3.9 48532 27 Las Vegas, N 333,000 183,000 318,000 54,694 14.1 644644 104,552 28 San Franciso 1,640,000 1,280,000 1,490,000 29 Philadelphia 30 Charlotte, NI 31 Ann Arbor, M 32 Charleston, 33 San Antonio, 8.4 888305 43,744 1584000 209,000 311,000 335,000 216,000 11.7 234,000 280,000 60,886 8.1 872498 440,000 282,000 412,000 63,956 5.0 121890 407,000 303,000 364,000 64,599 4.8 133762 215,000 165,000 213,000 46,317 8.0 1487000 34 35
Transcribed Image Text:H 1 City 2 Atlanta, GA Single family Condo or co- All homes Household ir Unemploymi Population 403,000 298,000 317,000 55,279 8.5 498044 3 Minneapolis 4 Cincinatti, O 5 San Diego, C 6 Reno, NV 7 Portland, OR 8 Sioux Falls, S 9 Kansas City. 10 Chicago, IL 11 Savannah,G 331,000 291,000 323,000 58,993 38,545 7.5 425403 208,000 211,000 191,000 10.1 302605 1426000 829,000 450,000 536,000 725,000 75,456 8.8 247,000 411,000 441,000 54,916 6.9 250998 518,000 514,000 65,740 59,017 8.9 653115 257,000 248,000 175,000 219,000 3.4 181883 184,000 187,000 52,405 7.5 491918 297,000 292,000 210,000 357,000 55,198 13.8 2706000 206,000 203,000 41,093 8.8 145862 12 Bloomington 261,000 890,000 188,000 573,000 248,000 34,435 85,562 4.7 84981 13 Seattle, WA 837,000 6.6 744955 14 Concord, NH 43412 297,000 172,000 178,000 130,000 284,000 176,000 62,967 5.2 15 Augusta, ME 16 Des Moines, 17 Lincoln, NB 18 Nampa, ID 19 Draper, UT 20 Houston, TX 21 Memphis, TN 22 Waco, TX 23 Jackson, MS 24 Tampa, FL 25 Atlantic City, 40,340 5.4 18681 162,000 228,000 298,000 186,000 186,000 258,000 165,000 225,000 305,000 52,251 6.4 216853 55,224 3.2 287401 44,691 115,618 6.4 96252 613,000 418,000 599,000 4.8 48319 9.8 2326000 246,000 122,000 177,000 170,000 209,000 51,140 112,000 39,108 12.1 650618 170,000 127,000 164,000 37,735 7.0 138183 68,438 121,000 48,579 37,563 9.3 164422 330,000 50,909 245,000 112,000 289,000 6.9 392890 134,000 123,000 27,786 15.8 37804 26 Bozeman, M 535,000 343,000 499,000 51,896 3.9 48532 27 Las Vegas, N 333,000 183,000 318,000 54,694 14.1 644644 104,552 28 San Franciso 1,640,000 1,280,000 1,490,000 29 Philadelphia 30 Charlotte, NI 31 Ann Arbor, M 32 Charleston, 33 San Antonio, 8.4 888305 43,744 1584000 209,000 311,000 335,000 216,000 11.7 234,000 280,000 60,886 8.1 872498 440,000 282,000 412,000 63,956 5.0 121890 407,000 303,000 364,000 64,599 4.8 133762 215,000 165,000 213,000 46,317 8.0 1487000 34 35
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ISBN:
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