City Single family Condo or co op All homes Household income Unemployment Population Atlanta, GA 403,000 298,000 317,000 55,279 8 5 498044 Minneapolis, MN 331,000 291,000 323,000 58,993 7 5 425403 Cincinatti, OH 208,000 211,000 191,000 38,545 10 1 302605 San Diego, CA 829,000 536,000 725,000 75,456 8 8 1426000 Reno, NV 450,000 247,000 441,000 54,916 6 9 250998 Portland, OR 518,000 411,000 514,000 65,740 8 9 653115 Sioux Falls, SD 257,000 175,000 248,000 59,017 3 4 181883 Kansas City, MO 184,000 219,000 187,000 52,405 7 5 491918 Chicago, IL 292,000 357,000 297,000 55,198 13 8 2706000 Savannah, GA 210,000 206,000 203,000 41,093 8 8 145862 Bloomington, IN 261,000 188,000 248,000 34,435 4 7 84981 Seattle, WA 890,000 573,000 837,000 85,562 6 6 744955 Concord, NH 297,000 178,000 284,000 62,967 5 2 43412 Augusta, ME 172,000 130,000 176,000 40,340 5 4 18681 Des Moines, IA 162,000 186,000 165,000 52,251 6 4 216853 Lincoln, NB 228,000 186,000 225,000 55,224 3 2 287401 Nampa, ID 298,000 258,000 305,000 44,691 6 4 96252 Draper, UT 613,000 418,000 599,000 115,618 4 8 48319 Houston, TX 246,000 177,000 209,000 51,140 9 8 2326000 Memphis, TN 122,000 170,000 112,000 39,108 12 1 650618 Waco, TX 170,000 127,000 164,000 37,735 7 0 138183 Jackson, MS 68,438 121,000 48,579 37,563 9 3 164422 Tampa, FL 330,000 245,000 289,000 50,909 6 9 392890 Atlantic City, NJ 134,000 112,000 123,000 27,786 15 8 37804 Bozeman, MT 535,000 343,000 499,000 51,896 3 9 48532 Las Vegas, NV 333,000 183,000 318,000 54,694 14 1 644644 San Francisco, CA 1,640,000 1,280,000 1,490,000 104,552 8 4 888305 Philadelphia, PA 209,000 335,000 216,000 43,744 11 7 1584000 Charlotte, NC 311,000 234,000 280,000 60,886 8 1 872498 Ann Arbor, MI 440,000 282,000 412,000 63,956 5 0 121890 Charleston, SC 407,000 303,000 364,000 64,599 4 8 133762 San Antonio, TX 215,000 165,000 213,000 46,317 8 0 1487000 35 ' ' i 3 c, Jump to level '1 A researcher is analyzing the relationship between various variables in housing data for 32 cities median list prices of single family homes, condominium or coops, all homes, median household income, unemployment rate, and population What is the correlation coefficient R for the model that predicts the list price of single family homes using unemployment rate as an explanatory variable R Ex 1 234 What is the interpretation of this correlation coefficient in context A Pick v correlation exists between the list price of single family homes and unemployment rate

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 22, 2024

City Single family Condo or co-op All homes Household income Unemployment Population Atlanta, GA 403,000 298,000 317,000 55,279 8.5 498044 Minneapolis, MN 331,000 291,000 323,000

City	Single family	Condo or co-op	All homes	Household income	Unemployment	Population
Atlanta, GA	403,000	298,000	317,000	55,279	8.5	498044
Minneapolis, MN	331,000	291,000	323,000	58,993	7.5	425403
Cincinatti, OH	208,000	211,000	191,000	38,545	10.1	302605
San Diego, CA	829,000	536,000	725,000	75,456	8.8	1426000
Reno, NV	450,000	247,000	441,000	54,916	6.9	250998
Portland, OR	518,000	411,000	514,000	65,740	8.9	653115
Sioux Falls, SD	257,000	175,000	248,000	59,017	3.4	181883
Kansas City, MO	184,000	219,000	187,000	52,405	7.5	491918
Chicago, IL	292,000	357,000	297,000	55,198	13.8	2706000
Savannah, GA	210,000	206,000	203,000	41,093	8.8	145862
Bloomington, IN	261,000	188,000	248,000	34,435	4.7	84981
Seattle, WA	890,000	573,000	837,000	85,562	6.6	744955
Concord, NH	297,000	178,000	284,000	62,967	5.2	43412
Augusta, ME	172,000	130,000	176,000	40,340	5.4	18681
Des Moines, IA	162,000	186,000	165,000	52,251	6.4	216853
Lincoln, NB	228,000	186,000	225,000	55,224	3.2	287401
Nampa, ID	298,000	258,000	305,000	44,691	6.4	96252
Draper, UT	613,000	418,000	599,000	115,618	4.8	48319
Houston, TX	246,000	177,000	209,000	51,140	9.8	2326000
Memphis, TN	122,000	170,000	112,000	39,108	12.1	650618
Waco, TX	170,000	127,000	164,000	37,735	7.0	138183
Jackson, MS	68,438	121,000	48,579	37,563	9.3	164422
Tampa, FL	330,000	245,000	289,000	50,909	6.9	392890
Atlantic City, NJ	134,000	112,000	123,000	27,786	15.8	37804
Bozeman, MT	535,000	343,000	499,000	51,896	3.9	48532
Las Vegas, NV	333,000	183,000	318,000	54,694	14.1	644644
San Francisco, CA	1,640,000	1,280,000	1,490,000	104,552	8.4	888305
Philadelphia, PA	209,000	335,000	216,000	43,744	11.7	1584000
Charlotte, NC	311,000	234,000	280,000	60,886	8.1	872498
Ann Arbor, MI	440,000	282,000	412,000	63,956	5.0	121890
Charleston, SC	407,000	303,000	364,000	64,599	4.8	133762
San Antonio, TX	215,000	165,000	213,000	46,317	8.0	1487000

35"?\" "'="'*:i..3:c,_ Jump to level '1 A researcher is analyzing the relationship between various variables in housing data for 32 cities: median list prices of single family homes, condominium or coops, all homes, median household income, unemployment rate, and population. What is the correlation coefficient R for the model that predicts the list price of single family homes using unemployment rate as an explanatory variable? R = Ex: 1.234 What is the interpretation of this correlation coefficient in context? A Pick v correlation exists between the list price of single family homes and unemployment rate