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Thank you, thank you! I cannot answer this, I have been taking multiple attempts and still can't answer it. Year201320142015MonthJanFebMarAprMayJuneJulyAugSeptOctNovDecJanFebMarAprMayJuneJulyAugSeptOctNovDecJanFebMarAprMayJunJulyAugFamilyIncome63,15763,71063,62363,49063,85064,04164,17064,39664,48664,55464,93764,65664,75465,07965,28165,58465,76265,89665,94866,07566,34366,43366,63966,79166,71867,11366,86467,08567,42367,49067,60567,580AffordabilityInComposite216.7210.6193.7190.3177.6169.1163.9157.0168.3170.9173.2170.0178.2178.7175.2169.0161.2154.8155.2163.1167.8168.3174.6173.9180.9178.8172.0169.0158.6156.3154.2158.3 An association of real estate
Thank you, thank you! I cannot answer this, I have been taking multiple attempts and still can't answer it.
Year201320142015MonthJanFebMarAprMayJuneJulyAugSeptOctNovDecJanFebMarAprMayJuneJulyAugSeptOctNovDecJanFebMarAprMayJunJulyAugFamilyIncome63,15763,71063,62363,49063,85064,04164,17064,39664,48664,55464,93764,65664,75465,07965,28165,58465,76265,89665,94866,07566,34366,43366,63966,79166,71867,11366,86467,08567,42367,49067,60567,580AffordabilityInComposite216.7210.6193.7190.3177.6169.1163.9157.0168.3170.9173.2170.0178.2178.7175.2169.0161.2154.8155.2163.1167.8168.3174.6173.9180.9178.8172.0169.0158.6156.3154.2158.3 An association of real estate agents provides a measurement of the residential real estate market. One of the measurements it produces is the Housing Affordability Index (HAI). It is a measure of the financial ability of families to buy a house. A value of 100 means that families earning the national median income have just the amount of money needed to qualify for a mortgage on a median-priced home; higher than 100 means they have more than enough, and lower than 100 means they have less than enough. The accompanying data table contains the HAI and associated variables. Complete parts a through c below. Click the icon to view the data on housing affordability. a. Construct a scatter plot relating the HAl(y) to the median family income (x). Choose the correct graph below. A. B. C. D. b. Obtain the estimated regression for a second-order polynomial model. y^= 1+(1 )x+()x2 (Round the coefficient of x2 to seven decimal places as needed. Round all other values to two decimal places as needed.) b. Obtain the estimated regression for a second-order polynomial model. y^=+1x+1x2 (Round the coefficient of x2 to seven decimal places as needed. Round all other values to two decimal places as needed.) c. Discuss the model developed in part b. Perform appropriate statistical tests using =0.05. State the hypotheses to test to determine if the second-order model is useful. H0:(1) HA:(2) The test statistic for the second-order model is F : (Round to two decimal places as needed.) The p-value for the second-order model is (Round to three decimal places as needed.) State an appropriate conclusion. (3) the null hypothesis. There (4) evidence to conclude that the second-order polynomial model is useful. Does the scatter plot indicate that another model could be a possibility? Select all that apply. A. No. The shape of the scatter plot indicates that a second-order model is the most appropriate model. B. Yes, a square-root model may be appropriate. C. Yes, a simple linear model may be appropriate. D. Yes, a higher-order model may be appropriate. Year201320142015MonthJanFebMarAprMayJuneJulyAugSeptOctNovDecJanFebMarAprMayJuneJulyAugSeptOctNovDecJanFebMarAprMayJunJulyAugFamilyIncome63,15763,71063,62363,49063,85064,04164,17064,39664,48664,55464,93764,65664,75465,07965,28165,58465,76265,89665,94866,07566,34366,43366,63966,79166,71867,11366,86467,08567,42367,49067,60567,580AffordabilityInComposite216.7210.6193.7190.3177.6169.1163.9157.0168.3170.9173.2170.0178.2178.7175.2169.0161.2154.8155.2163.1167.8168.3174.6173.9180.9178.8172.0169.0158.6156.3154.2158.3 An association of real estate agents provides a measurement of the residential real estate market. One of the measurements it produces is the Housing Affordability Index (HAI). It is a measure of the financial ability of families to buy a house. A value of 100 means that families earning the national median income have just the amount of money needed to qualify for a mortgage on a median-priced home; higher than 100 means they have more than enough, and lower than 100 means they have less than enough. The accompanying data table contains the HAI and associated variables. Complete parts a through c below. Click the icon to view the data on housing affordability. a. Construct a scatter plot relating the HAl(y) to the median family income (x). Choose the correct graph below. A. B. C. D. b. Obtain the estimated regression for a second-order polynomial model. y^= 1+(1 )x+()x2 (Round the coefficient of x2 to seven decimal places as needed. Round all other values to two decimal places as needed.) b. Obtain the estimated regression for a second-order polynomial model. y^=+1x+1x2 (Round the coefficient of x2 to seven decimal places as needed. Round all other values to two decimal places as needed.) c. Discuss the model developed in part b. Perform appropriate statistical tests using =0.05. State the hypotheses to test to determine if the second-order model is useful. H0:(1) HA:(2) The test statistic for the second-order model is F : (Round to two decimal places as needed.) The p-value for the second-order model is (Round to three decimal places as needed.) State an appropriate conclusion. (3) the null hypothesis. There (4) evidence to conclude that the second-order polynomial model is useful. Does the scatter plot indicate that another model could be a possibility? Select all that apply. A. No. The shape of the scatter plot indicates that a second-order model is the most appropriate model. B. Yes, a square-root model may be appropriate. C. Yes, a simple linear model may be appropriate. D. Yes, a higher-order model may be appropriateStep by Step Solution
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