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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
2518
Price: 75
75
102
149
152
154
327
425
625
775
53
57
66
68
86
90
93
95
104
105
135
159
169
253
725
67
85
110
65
74
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.
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