Course: Statistics - Lineal Regression Property brokers often need to know how appraisal of a property changes (in thousands of $) in relation to its surface area (hundreds of square meters). Table below is a sample of 10 properties in city of Santiago, Chile. X 1.1 1.6 1.5 1.6 1.4 1.3 1.1 1.7 1.9 1.5 Y 4.0 4.9 5.4 5.1 4.8 4.6 4.1 5.6 6.2 5.0 a) Using the least squares method, determine linear regression line. Graph it. b) Is it possible to state that relationship between appraisal and its area is significant? Use α = 5%.

Course: Statistics - Lineal Regression Property brokers often need to know how appraisal of a property changes (in thousands of $) in relation to its surface area (hundreds of square meters). Table below is a sample of 10 properties in city of Santiago, Chile. X 1.1 1.6 1.5 1.6 1.4 1.3 1.1 1.7 1.9 1.5 Y 4.0 4.9 5.4 5.1 4.8 4.6 4.1 5.6 6.2 5.0 a) Using the least squares method, determine linear regression line. Graph it. b) Is it possible to state that relationship between appraisal and its area is significant? Use α = 5%.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 2AGP

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Question

Course: Statistics - Lineal Regression

Property brokers often need to know how appraisal of a property changes (in thousands of $) in relation to its surface area (hundreds of square meters). Table below is a sample of 10 properties in city of Santiago, Chile.

X	1.1	1.6	1.5	1.6	1.4	1.3	1.1	1.7	1.9	1.5
Y	4.0	4.9	5.4	5.1	4.8	4.6	4.1	5.6	6.2	5.0

a) Using the least squares method, determine linear regression line. Graph it.
b) Is it possible to state that relationship between appraisal and its area is significant? Use α = 5%.

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