Open the Excel spreadsheet "HomeSalesData.xls". This dataset shows actual home sales data from New Orleans, circa 2005. Estimate a regression to answer the following. Each square foot increase in home size is associated with a _____________ dollar increase home price. Round your answer to two decimal places. Data on Pot
Open the Excel spreadsheet "HomeSalesData.xls". This dataset shows actual home sales data from New Orleans, circa 2005. Estimate a regression to answer the following. Each square foot increase in home size is associated with a _____________ dollar increase home price. Round your answer to two decimal places. Data on Pot
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 6PPS
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Question
Open the Excel spreadsheet "HomeSalesData.xls". This dataset shows actual home sales data from New Orleans, circa 2005. Estimate a regression to answer the following.
Each square foot increase in home size is associated with a _____________ dollar increase home price. Round your answer to two decimal places.
Data on Potentially Related Variables for Randomly Selected Homes | ||||
Price | Home_Size | Lot_Size | Number_Rooms | Number_Baths |
$72,000 | 600 | 0.50 | 3 | 1.0 |
$116,300 | 1050 | 0.43 | 5 | 1.5 |
$152,000 | 1800 | 0.68 | 7 | 1.5 |
$80,500 | 922 | 0.30 | 5 | 1.0 |
$141,900 | 1950 | 0.75 | 8 | 2.5 |
$124,000 | 1783 | 0.22 | 8 | 1.5 |
$117,000 | 1008 | 0.50 | 6 | 1.0 |
$165,900 | 1840 | 1.16 | 8 | 2.0 |
$153,500 | 3700 | 1.10 | 10 | 3.0 |
$126,500 | 1092 | 0.26 | 6 | 1.0 |
$122,000 | 1950 | 0.50 | 7 | 1.5 |
$140,000 | 1403 | 0.50 | 6 | 2.0 |
$223,000 | 1680 | 14.37 | 8 | 2.0 |
$99,500 | 1000 | 0.49 | 4 | 1.0 |
$211,900 | 2310 | 0.46 | 8 | 2.5 |
$121,900 | 1300 | 0.78 | 6 | 1.0 |
$169,000 | 1930 | 3.00 | 9 | 3.0 |
$156,000 | 3000 | 0.50 | 11 | 2.5 |
$123,500 | 1362 | 0.40 | 7 | 2.0 |
$136,000 | 1750 | 0.50 | 7 | 2.0 |
$194,900 | 2080 | 1.00 | 8 | 2.5 |
$128,500 | 1344 | 0.94 | 6 | 2.0 |
$302,000 | 2130 | 11.91 | 8 | 1.5 |
$142,000 | 1500 | 0.41 | 7 | 1.0 |
$146,000 | 2400 | 0.40 | 7 | 2.5 |
$180,000 | 2272 | 0.41 | 9 | 2.5 |
$126,500 | 1050 | 1.00 | 5 | 1.0 |
$139,500 | 1610 | 0.45 | 8 | 1.5 |
$124,900 | 1248 | 0.22 | 7 | 1.0 |
$133,000 | 2000 | 0.50 | 8 | 2.0 |
$110,000 | 1450 | 0.30 | 6 | 2.0 |
$118,500 | 1248 | 0.25 | 7 | 1.0 |
$194,500 | 2544 | 0.28 | 9 | 2.5 |
$269,900 | 2500 | 0.92 | 8 | 3.0 |
$169,900 | 2858 | 0.79 | 9 | 3.0 |
$190,000 | 1745 | 0.58 | 7 | 2.5 |
$203,000 | 2653 | 1.80 | 9 | 3.0 |
$144,900 | 1450 | 0.30 | 7 | 1.0 |
$94,000 | 850 | 0.11 | 4 | 1.0 |
$139,900 | 1839 | 2.60 | 7 | 1.5 |
$183,000 | 2016 | 0.78 | 8 | 2.5 |
$135,000 | 1625 | 0.36 | 7 | 1.5 |
$132,000 | 2000 | 0.11 | 8 | 2.0 |
$181,500 | 2250 | 0.33 | 9 | 2.5 |
$136,000 | 1300 | 0.30 | 7 | 1.0 |
$164,000 | 1956 | 0.50 | 8 | 2.5 |
$162,000 | 2496 | 0.75 | 9 | 2.5 |
$141,000 | 1575 | 0.25 | 7 | 1.5 |
$196,800 | 1960 | 1.33 | 8 | 2.5 |
$125,000 | 1200 | 0.33 | 5 | 1.0 |
$127,500 | 1296 | 0.50 | 9 | 1.0 |
$267,000 | 1950 | 18.70 | 7 | 2.5 |
$285,000 | 2516 | 8.10 | 7 | 2.5 |
$131,000 | 1066 | 0.33 | 5 | 1.0 |
$163,500 | 2276 | 1.00 | 8 | 2.5 |
$133,000 | 1908 | 0.46 | 7 | 2.0 |
$150,000 | 1122 | 3.09 | 5 | 2.0 |
$141,000 | 3500 | 1.00 | 10 | 2.5 |
$133,000 | 1100 | 0.33 | 6 | 1.0 |
$190,000 | 2300 | 5.63 | 7 | 2.5 |
$125,900 | 1118 | 0.56 | 7 | 1.5 |
$189,900 | 2464 | 0.43 | 8 | 2.5 |
$155,000 | 2100 | 0.58 | 8 | 1.5 |
$142,500 | 1552 | 0.46 | 6 | 1.5 |
$137,900 | 1856 | 0.33 | 7 | 1.5 |
$130,000 | 1800 | 0.30 | 7 | 1.5 |
$117,000 | 1248 | 0.30 | 6 | 1.0 |
$180,500 | 2000 | 0.60 | 9 | 2.5 |
$162,500 | 1848 | 0.50 | 7 | 2.5 |
$108,000 | 1036 | 0.95 | 6 | 1.0 |
$170,000 | 2277 | 0.80 | 8 | 3.0 |
$156,000 | 2300 | 0.65 | 7 | 3.0 |
$187,000 | 2080 | 1.23 | 8 | 2.5 |
$150,000 | 1600 | 1.84 | 7 | 2.0 |
$165,000 | 2680 | 0.50 | 9 | 3.0 |
$119,000 | 1200 | 0.25 | 7 | 1.0 |
$135,500 | 1526 | 0.30 | 7 | 1.5 |
$145,900 | 1680 | 0.50 | 6 | 1.5 |
$126,000 | 1232 | 0.31 | 6 | 2.0 |
$205,406 | 2465 | 1.55 | 8 | 2.5 |
$185,500 | 2800 | 1.68 | 9 | 1.5 |
$195,000 | 2265 | 0.85 | 8 | 2.5 |
$125,000 | 1300 | 0.65 | 5 | 1.0 |
$160,000 | 1900 | 1.00 | 8 | 2.5 |
$96,000 | 864 | 0.32 | 4 | 1.0 |
$142,000 | 2000 | 0.75 | 9 | 1.5 |
$145,000 | 1800 | 0.66 | 8 | 2.5 |
$151,500 | 1900 | 0.75 | 7 | 2.0 |
$150,000 | 1564 | 0.33 | 6 | 2.0 |
$265,000 | 2400 | 2.00 | 7 | 2.0 |
$116,000 | 1100 | 1.10 | 6 | 1.0 |
$135,000 | 1800 | 1.00 | 8 | 2.5 |
$129,000 | 1200 | 0.33 | 6 | 1.0 |
$108,500 | 1540 | 0.18 | 7 | 2.0 |
$164,900 | 1980 | 0.70 | 8 | 2.5 |
$110,000 | 1289 | 0.25 | 6 | 1.0 |
$154,000 | 1800 | 0.68 | 7 | 2.0 |
$134,000 | 1502 | 0.35 | 7 | 1.5 |
$160,000 | 2025 | 1.10 | 7 | 2.0 |
$220,000 | 3000 | 1.15 | 10 | 3.5 |
$126,500 | 1500 | 0.50 | 7 | 1.5 |
$126,500 | 1600 | 0.26 | 8 | 1.5 |
$158,000 | 1500 | 0.54 | 5 | 2.5 |
$172,000 | 2100 | 1.00 | 8 | 2.5 |
$215,000 | 2100 | 0.50 | 8 | 2.5 |
$141,900 | 1632 | 3.00 | 6 | 3.0 |
$89,900 | 1660 | 0.21 | 7 | 1.0 |
$129,900 | 1070 | 1.69 | 5 | 1.0 |
$135,000 | 1400 | 0.35 | 6 | 2.0 |
$135,000 | 1800 | 0.50 | 7 | 2.0 |
$122,500 | 1100 | 0.37 | 7 | 1.0 |
$235,000 | 3150 | 0.30 | 11 | 4.0 |
$134,500 | 2000 | 0.70 | 8 | 1.0 |
$126,500 | 1700 | 0.30 | 8 | 2.0 |
$180,000 | 1800 | 1.52 | 8 | 2.5 |
$127,500 | 1850 | 0.26 | 9 | 2.0 |
$165,000 | 2320 | 0.40 | 8 | 2.5 |
$97,000 | 1300 | 0.37 | 5 | 1.0 |
$100,000 | 1338 | 0.12 | 6 | 1.0 |
$208,000 | 2288 | 1.20 | 8 | 2.5 |
$182,000 | 2400 | 0.50 | 8 | 2.5 |
$175,000 | 2400 | 0.70 | 8 | 3.0 |
$144,900 | 1900 | 0.44 | 6 | 2.0 |
$177,000 | 2010 | 0.68 | 8 | 1.5 |
$231,750 | 2981 | 1.30 | 10 | 3.5 |
$165,000 | 1725 | 1.53 | 8 | 2.5 |
$78,000 | 821 | 2.30 | 4 | 1.0 |
$179,000 | 3060 | 0.75 | 8 | 2.0 |
$85,000 | 875 | 0.26 | 5 | 1.0 |
$160,000 | 1760 | 0.05 | 7 | 2.0 |
$141,000 | 2000 | 0.65 | 7 | 1.0 |
$185,000 | 2600 | 0.75 | 8 | 2.0 |
$113,500 | 1624 | 1.80 | 7 | 1.5 |
$190,000 | 2473 | 1.25 | 9 | 2.5 |
$107,000 | 1100 | 0.17 | 5 | 1.0 |
$217,000 | 3100 | 0.54 | 10 | 3.5 |
$194,500 | 2300 | 0.91 | 8 | 2.5 |
$152,000 | 1450 | 0.30 | 6 | 1.5 |
$210,000 | 2100 | 0.50 | 8 | 2.5 |
$140,000 | 1650 | 0.50 | 8 | 2.5 |
$120,500 | 1600 | 0.40 | 6 | 2.0 |
$179,900 | 2790 | 0.75 | 13 | 2.5 |
$152,500 | 1786 | 0.30 | 8 | 2.0 |
$159,000 | 1728 | 0.50 | 8 | 1.5 |
$168,500 | 1900 | 1.06 | 7 | 2.5 |
$98,000 | 1165 | 0.12 | 6 | 1.0 |
$117,500 | 1300 | 0.29 | 6 | 1.0 |
$115,000 | 1080 | 0.31 | 5 | 1.0 |
$275,000 | 2820 | 1.00 | 9 | 2.5 |
$190,000 | 2100 | 1.30 | 8 | 1.5 |
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