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Open House_Price5variables data.
Open House_Price5variables data. Create scattered plot chart with X representing the age of the house and Y representing the selling price of the house in $100,000; plot the line and compute the R-square. Answer questions 9 to 12:
9. What are the slope and the R-squares on your chart? (4 points)
- a. Slope= -1.6019, R-square=0.1175
- b. Slope=-0.0734, R-square=0.1175
- c. Slope=9.8861, R-square=0.1175
- d. Slope=47.89, R-square=0.1175
10. What is the Y-intercept and its interpretation based on the chart? (4 points)
- a. Y-intercept=9.8861, it is the predicted selling price of a brand new house (zero year-old house) in $100,000.
- b. Y-intercept=47.89, it is the predicted selling price of a brand new house (zero year-old house) in $100,000.
- c. Y-intercept=9.8861, for one additional year one expects to see a decrease of about 9.8861 hundred thousand dollars in the selling price of the house.
- d. Y-intercept=47.89, for one additional year one expects to see a decrease of about 47.89 hundred thousand dollars in the selling price of the house.
11. If a house is 7 years old, using the chart and the equation, what is your prediction of the house's selling price? Pick the closest answer. (4 points)
- a. $ 3,667,670.00
- b. $ 937,230.00
- c. $ 1,039,990.00
- d. $ 5,910,330.00
12. What does each dot represent? (4 points)
- a. The Selling Price of a house
- b. The Age of a house
- c. A House
- d. The housing market
