Solution-Scatterplot between the square-foot area

Scatterplot between the square-foot area

Assignment Help Basic Statistics

Reference no: EM13963633

The following data give the area (in square feet) and the sale prices (approximated to the nearest $1000) of homes that were sold in a particular city in a 6-week period of 2003.

Area: 1123	1028	1490	2172	2300	1992	3200	3063	3720
7228	720	943	904	912	1031	1152	1482	1426
1491	1184	1650	1392	1755	2062	2495	3253	5152
1270	1723	1161	1220	837	1446	2442	2300	2518
Price: 75	75	102	149	152	154	327	425	625
775	53	57	66	68	75	86	90	93
95	95	104	105	135	159	169	253	725
67	85	110	65	74	95	156	183	207

(a) Obtain a dotplot and describe the home price data.

(b) Identify any outliers and test for normality with and without outliers for home price data. If the data are not normal, does any simple transformation make the data normal?

(c) Obtain a 95% con?dence interval for home price.

(d) Do parametric or nonparametric methods seem more appropriate for the data?

(e) Obtain a scatterplot between the square-foot area of a home and its price.

(f) Fit a least-squares regression line and run a residual model diagnostics using Minitab.

Reference no: EM13963633

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Scatterplot between the square-foot area

Reference no: EM13963633

Reference no: EM13963633

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