Data for a sample of houses sold recently in the suburb of a large metropolis are given below: Area

Data for a sample of houses sold recently in the suburb of a large metropolis are given below:

Area of House (hundreds of square feet)

Selling Price (thousands of dollars)

20

250

19

220

27

350

28

390

30

320

15

200

25

360

23

290

18

210

35

410

Summarize your findings as an ANOVA table.

Find standard error of the estimate se

Test the hypothesis that Y and X are not related. That is, test H0: b1 = 0 vs. H1: b1 0 by using a t-statistic. Use a = 0.05.

Find the predicted value of Y given X = 24. Give an interpretation of the predicted value in the context of the problem.

Find a 95% confidence interval for the mean value of Y given X = 24. Give an interpretation of the confidence interval in the context of the problem.

Area of House (hundreds of square feet)

Selling Price (thousands of dollars)

20

250

19

220

27

350

28

390

30

320

15

200

25

360

23

290

18

210

35

410

 

 

Looking for a Similar Assignment? Hire our Top Techical Tutors while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Active Discount Code FREE15