Explore the relationship between the selling prices and the appraised values of the 150 homes in the

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Explore the relationship between the selling prices and the appraised values of the 150 homes in the file P2_7.XLS by computing a correlation.

a. Is there evidence of a linear relationship between the selling price and appraised value in this case? If so, characterize the relationship (i.e., indicate whether the relationship is a positive or negative one).

b. For which of the two remaining variables, the size of the home and the number of bedrooms in the home, is the relationship with the home’s appraised value stronger? Justify your choice.

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Managerial Statistics

ISBN: 9780534389314

1st Edition

Authors: S. Christian Albright, Wayne L. Winston, Christopher Zappe

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