The data show the list and selling prices for several expensive homes. Find the

Question

The data show the list and selling prices for several expensive homes. Find the regression equation, letting the the list price be the independent (x) variable. Find the best predicted selling price of a home having a list price of $2 million. Is the result close to the actual selling price of $2.3 million? Use a significance level of 0.05. List price (millions of S) Selling price (millions of S) 3.5 2.6 2.5 1.5 2.5 3.9 42.63. A.1 Click the icon to view the critical values of the Pearson correlation coefficient r. What is the regression equation? y-D+D(Round to four decimal places as needed )

Explanation / Answer

using minitab

Regression Analysis: selling price(y) versus list price(x)

The regression equation is
selling price(y) = 0.0219 + 1.089 list price(x)

S = 0.161902   R-Sq = 97.6%   R-Sq(adj) = 97.0%

Analysis of Variance

Source      DF       SS       MS       F      P
Regression   1 4.26348 4.26348 162.65 0.000
Error        4 0.10485 0.02621
Total        5 4.36833

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.