Q. 4.107 - Elementary Statistics

Question

In Exercises 4.104 - 4.115, use the technology of your choice to perform the following tasks.

(a) Decide whether finding the regression line for the data is reasonable. If so, do parts (b) - (d).

(b) Obtain the coefficient of determination,

(c) Determine the percentage of variation in the observed values of the response variable explained by the regression and interpret your answer.

(d) State how useful the regression equation appears to be for making predictions.

The data from Exercis 4.73 for Lot size (in acres) and assessed values (in thousands of dollars) for a sample of homes in a particular area are on the WeissStats site.

Step-by-Step Solution

Answer

(a) No, it is not possible to find the regression line for the given data because there is linear pattern appears in the data. 

Hence the remaining parts (b) - (d) are omitted.

Part (a) Step 1. Given Information.

The data from Exercis 4.73 for Lot size (in acres) and assessed values (in thousands of dollars) for a sample of homes in a particular area are on the WeissStats site.

Part (a) Step 2. The MINITAB procedure.

The MINITAB procedure for constructing scatterplot is:

1. Choose Graph > Scatterplot.

2. Choose with Connect Line, click OK.

3. Under Y-variables, enter a column of Value and under X-variables enter a column of Lot Size.

4. Click OK.

Part (a) Step 3. Graph the scatterplot.

The MINITAB output is:

No, it is not possible to find the regression line for the given data because there is linear pattern appears in the data. 

Hence the remaining parts (b) - (d) are omitted.