Questions

The data for this part of Test 1 comes from a study of the dependence of the sale price of

a house on size of the house, in square feet. The goal was to investigate the form of the

relationship.

In this study records of 100 houses that were recently sold were randomly selected. The

sale prices are in dollars, the sizes of the house are in square feet.

1. (5 points) Find boxplots (don't get comparison plots since these variables do not mea-
   sure the same quantity) for both sets of data. Discuss the shape of each and whether
   there are outliers.
2. (5 points) Obtain a scatterplot with regression line for the data. What type of relation-
   ship is indicated? Summarize what this means for sale price as house size increases.
3. (5 points) Find the regression equation and R-squared value. Discuss the slope and ex-
   plain what R-squared tells us here. Does the y-intercept provide any useful information?
   Why?
4. (5 points) Use the regression equation to estimate the sale price for for a house that was
   3000 square feet in size.
5. (5 points) Does the form of the relationship seen here make intuitive sense? Why or

why not?

Price: $7.98

Solution: The downloadable solution consists of 4 pages, 398 words and 4 charts.
Deliverable: Word Document