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STAT 200; Week 7 Homework Problems, Already Graded A+

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STAT 200; Week 7 Homework Problems, Already Graded A+

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Stat 200 week 7 homework problems

10.1.2

Tabl e #10.1.6 containsthe value of the house and the amount of rental income in a year
that the house brings in ("capital and rental," 2013). Create a scatter plot and find a
regression equation between house value and rental income. Then use the regression
equation to find the rental income a house worth $230,000 and for a house worth
$400,000. Which rental income that you calculated do you think is closer to the true
rental income why

Tabl e #10.1.6:data of house value versus rental
Value Rental Value Rental Value Rental Value Rental
81000 6656 77000 4576 75000 7280 67500 6864
95000 7904 94000 8736 90000 6240 85000 7072
121000 12064 115000 7904 110000 7072 104000 7904
135000 8320 130000 9776 126000 6240 125000 7904
145000 8320 140000 9568 140000 9152 135000 7488
165000 13312 165000 8528 155000 7488 148000 8320
178000 11856 174000 10400 170000 9568 170000 12688
200000 12272 200000 10608 194000 11232 190000 8320
214000 8528 208000 10400 200000 10400 200000 8320
240000 10192 240000 12064 240000 11648 225000 12480
289000 11648 270000 12896 262000 10192 244500 11232
325000 12480 310000 12480 303000 12272 300000 12480


In excel go to inert >scatterchart

,We observe a positive relationship between value and rental. Then

go to

Data analysis >regression

you will get below

, Summary output


Regression statistics
Multiple r 0.764716
R square 0.58479
Adjusted r 0.575764
Standard e 45259.15
Observatio 48


Anova
Df Ss Ms F Ignificance f
Regression 1 1.33e+11 1.33e+11 64.78736 2.5e-10
Residual 46 9.42e+10 2.05e+09
Total 47 2.27e+11


Coefficients Andard err T stat P-value Lower 95%Upper 95% Ower Pper 95.0%
95.0%
Intercept -56372.9 29402.57 -1.91728 0.061425 -115557 2811.394 -115557 2811.394
X variable 24.0079 2.982696 8.04906 2.5e-10 18.00404 30.01175 18.00404 30.01175




Regression equation is

rental=5363.865+0.024358*value

Use the regression equation to find the rental income a house worth $230,000 and for a
house worth $400,000.

For value=230000

Rental=5363.865+0.024358*230000

Predicted rental=10966.2 for

value=400000

Rental=5363.865+0.024358*400000

Rental=15107.07

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