Please provide answers in the answer format in attached word doc.

7) Is square footage of a house a good predictor of its selling price? You have been asked by Zillow.com to conduct a simple regression analysis to answer this question. The data is housed in the Excel document titled Ã¢â‚¬Å“ZillowÃ¢â‚¬Â.

a. Define the two variables being sure to include the units of measure and which variable is the explanatory and which is the response.

b. Produce a scatterplot (in

Excel

).

c. Report the correlation coefficient (r) rounded to the hundredths place.

d. Regression equation (include snip from

JMP

).

e. Descriptive statistics for the explanatory variable (include snip from

JMP

).

f. Discuss the scatterplot and what it shows in terms of the relationship between the two variables.

House ID

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

36

Price ($)

Bedrooms Square Footage (sq ft) Age

118000

3

2312

137600

4

2800

116000

3

2295

113900

3

2052

123000

4

1884

97000

3

1400

126000

3

2288

112000

4

2200

118000

4

1623

128000

4

2716

118900

3

1650

118000

3

1600

131130

3

2398

141000

4

2300

127500

3

1900

121900

3

2113

146000

4

2466

154000

4

2071

98000

3

1724

176000

3

2620

98000

2

1000

85500

3

1200

90000

4

1671

93900

3

1700

91500

3

1212

102000

3

1952

115000

3

1500

106000

2

1120

94700

3

1820

109000

3

2404

69000

2

1020

83500

3

1128

82450

3

1268

179900

4

3150

104000

3

1300

101900

4

1997

Source: Zillow.com

Location

31

12

31

11

30

25

15

15

30

21

6

30

20

17

24

16

6

6

26

18

5

27

37

18

16

15

21

7

40

21

14

9

35

17

6

22

Style

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

3

1

2

4

2

1

2

2

3

4

1

3

4

1

1

3

4

2

4

2

2

1

2

1

3

1

4

4

2

3

2

1

1

4

2

Include all output that is used to produce your solution. Include all units where

appropriate. Excel and JMP output is required whenever you use Excel or JMP to answer a

question.

Question 7:

7) Is square footage of a house a good predictor of its selling price? You have been

asked by Zillow.com to conduct a simple regression analysis to answer this question.

The data is housed in the Excel document titled Ã¢â‚¬Å“ZillowÃ¢â‚¬Â.

a. Define the two variables being sure to include the units of measure and which

variable is the explanatory and which is the response.

b. Produce a scatterplot (in Excel).

c. Report the correlation coefficient (r) rounded to the hundredths place.

d. Regression equation (include snip from JMP).

e. Descriptive statistics for the explanatory variable (include snip from JMP).

f. Discuss the scatterplot and what it shows in terms of the relationship between the

two variables.

g. Interpret the correlation coefficient.

h. Report the equation of the model rounding the slope and y-intercept to the

nearest hundredth.

i. Interpret the slope.

j. Interpret the y-intercept.

k. Report the expected price for a 2200 square foot house. Round your price to the

nearest cent.

l. Can you conclude there is a causational relationship? Why or why not?

Purchase answer to see full

attachment