The following software outputs provide information about the Size (in square feet) of 18 homes in Ithaca,

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The following software outputs provide information about the Size (in square feet) of 18 homes in Ithaca, New York, and the city's assessed Value of those homes.

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Dependent variable is Value R-squared = 32.5%
s = 4682 with 18 - 2 = 16 degrees of freedom
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a) Explain why inference for linear regression is appropriate with these data.
b) Is there a significant association between the Size of a home and its assessed Value! Test an appropriate hypothesis and state your conclusion.
c) What percentage of the variability in assessed Value is explained by this regression?
d) Give a 90% confidence interval for the slope of the true regression line, and explain its meaning in the proper context.
e) From this analysis, can we conclude that adding a room to your house will increase its assessed Value! Why or why not?
f) The owner of a home measuring 2100 square feet files an appeal, claiming that the $70,200 assessed Value is too high. Do you agree? Explain your reasoning.
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Related Book For  book-img-for-question

Stats Data And Models

ISBN: 662

4th Edition

Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock

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