The data sets in Exercises 12 are known to be linear.
Real estate brokers carefully track sales of new homes looking for trends in location, price, size, and other factors. The table relates the average selling price within a price range (homes in the $120,000 to $140,000 range are represented by the $130,000 figure), to the number of new homes sold by the $130,000 figure), to the number of new homes sold by Homestead Realty in 2004.years. (a) Draw a scatterplot of the data, (b) decide if the association is positive or negative, then (c) decide whether the correlation is weak or strong.
Price | Sales |
130’s | 126 |
150’s | 95 |
170’s | 103 |
190’s | 75 |
210’s | 44 |
230’s | 59 |
250’s | 21 |
For the scatterplots given: (a) Arrange them in order from the weakest to the strongest correlation, (b) sketch a line that seems to approximate the data, (c) state whether the association is positive, negative, or cannot be determined, and (d) choose two points on (or near) the line and use them to approximate its slope (rounded to one decimal place).
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