STAT 200 Week 7 Homework Problems - STAT200 Week 7: Introduction To Statistics Quiz

STAT 200 Week 7 Homework Problems 10.1.2 Table #10.1.6 contains the 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? Table #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 12064 7904 7072 7904 8320 9776 6240 7904 8320 9568 9152 7488 13312 8528 7488 8320 11856 10400 9568 12688 12272 10608 11232 8320 8528 10400 10400 8320 10192 12064 11648 12480 11648 12896 10192 11232 12480 12480 12272 12480