Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A real estate agency collected the data shown below, where
y = sales price of a house (in thousands of dollars)
x1 = home size (in hundreds of square feet)
x2 = rating (an overall rating for the house expressed on a scale from 1 (worst) to 10 (best).
Sales Price (y) Home Size (x1) Rating (x2)
180.0 23 5
98.1 11 2
173.1 20 9
136.5 17 3
141.0 15 8
165.9 21 4
193.5 24 7
127.8 13 6
163.5 19 7
172.5 25 2
The agency developed the following regression model:
y = βo + β1 x1 + β2 x2+ €
a) Show why this may be a reasonable model for the relationship between the sales price and home size?
b) What factors are represented in the error term in this model? Give a specific example of these factors.
Assumptions in Regression To understand the properties underlying the regression line, let us go back to the example of model exam and main exam. Now we can find an estimate o
(a) Average rainfall during the month of January is found to be 58 mm. A Class A pan evaporation recorded an average of 8.12 mm/day near an irrigation reservoir. The average
Grouped Data In order to find the median, the median class is to be first located and then interpolation is to be used by assuming that items are evenly spaced over the entire
Sampling Error It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p
what is quality control
Regression Lines It has already been discussed that there are two regression lines and they show mutual relationship between two variable . The regression line Yon X gives th
Sequential Sampling Under this method, a number of sample lots are drawn one after another from a universe depending on the results of the earlier samples. Such sampling is gen
Andrews ‘Plots A graphical display of multivariate data in which an observation, x0 = [x1, x2, . . . , xq] is represented can be represented in the form of function A set
Explanation of standard deviation and variance Describe the importance of standard deviation and variance, what they calculate and why they are required. Importance of char
Two individuals, player 1 and player 2, are competing in an auction to obtain a valuable object. Each player bids in a sealed envelope, without knowing the bid of the other player
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd