Using the data provided, similar to the Federal Housing Finance Agency (FHFA) which collects data on various aspects of housing costs around the U.S.:

Please show / record all your work by inserting more space to this document so you have enough room to display your explanations, screenshots, etc. Be sure to note the documentation of the work (explanations, screenshots, etc.) that you provide in this document.

1) Is a regression analysis appropriate (Also, be sure to make a fully labeled scatterplot!)? Explain your reasoning (hint: what are the data types and what does the graph look like, visually).

Insert your screenshot below to document the scatterplot:

2) What is the equation that predicts Housing Price Index (HPI) from median family income?

Insert screenshot below to document where / how you found this regression equation:

3) What is the correlation (coefficient) between median family income and HPI?

1. What is the actual numeric value of the correlation coefficient (include a screenshot of how you found the correlation coefficient)?
2. What does this "say" about the model (strength & direction, in "context")?

4) Interpret the meaning of the slope of the regression line in this context. Be specific numerically and include units.

Insert screenshot below to document where / how you found the slope:

5) What does the y-intercept mean in this context?

Be specific numerically and include units. Insert screenshot below to document where / how you found the y-intercept:

6) For a state with MFI =$73577, what would be the predicted HPI?

Insert screenshot below to document where / how you found this predicted HPI (hint: you'll need to use the regression equation):

7) Washington (WA). has an MFI of $73577and an HPI of 400.07. How far off is the prediction in #6 from the actual HPI?

Insert your screenshot below to document where / how you found this difference between the predicted and actual HPI:

8) What is the predicted HPI for Oregon?

Insert your screenshot below to document where / how you found this predicted HPI (hint: you'll need to use the regression equation):

9) What is the Oregon residual?

Insert your screenshot below to document where / how you found this residual:

10) What would you predict about the average HPI that is 2 standard deviations below average Median

Family Income in the US?

Insert your screenshot below to document where / how you found this predicted HPI (hint: you'll need to use the regression equation, along with first finding the correct MFI to input into the equation):

A B C D E State MedianIncome HousePriceIndex(HPI) 2 Alabama 50075 188.32 Alaska 77707 196.89 4 Arizona 58824 349.76 5 Arkansas 47774 170.57 6 California 75440 268.22 7 Colorado 72357 497.74 8 Connecticut 78508 114.46 9 Delaware 68523 154.96 10 District of Columbia 92233 549.64 11 Florida 55839 305.44 12 Georgia 58785 208.30 13 Hawaii 80301 219.51 14 Idaho 55276 445.80 15 Illinois 65644 133.51 16 Indiana 56609 172.17 17 lowa 60616 190.48 18 Kansas 59949 204.20 19 Kentucky 50750 198.54 20 Louisiana 49076 223.68 21 Maine 57704 244.87 22 Maryland 80610 264.45 23 Massachusetts 81595 267.63 24 Michigan 57739 197.14 Sheet 1