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Homework answers / question archive / Name ______________________ Business Statistics Free Response Questions #11: for Chapter 14 Worth 10 points

Name ______________________ Business Statistics Free Response Questions #11: for Chapter 14 Worth 10 points

Statistics

Name ______________________ Business Statistics Free Response Questions #11: for Chapter 14 Worth 10 points. Directions: You can either type out answers to these questions then submit a word document or pdf (please no GoogleDoc sharing links or Apple pages files) or you can write out your answer by hand and take a photo (try to avoid HEIC image format, please) or scan the sheet of paper. PLEASE make sure you hand in something that is aligned correctly (not sideways) and clear enough for me to read. 1. Use StatCrunch to answer the following questions using this data set. Price Bedrooms Bathrooms Size (in sq ft) 349900 3 1.5 1836 350000 3 1.5 1440 369900 4 2 1896 300000 2 1.5 768 279900 3 1.5 1320 399000 3 2.5 2092 305000 4 1 2240 674900 4 2.5 3493 350000 4 2 2549 429900 4 2 2714 359000 3 2 2160 424900 3 2 2128 324000 3 1.5 1560 200000 1 1 912 359999 3 1.5 1740 315000 2 2 1254 479900 3 2 2672 265000 2 1 1008 305000 3 1 1577 300000 2 2 1512 Questions to answer: PLEASE INCLUDE SCREEN SHOTS FROM STATCRUNCH IN YOUR SUBMISSION. **Make sure you provide images or screenshots of your StatCrunch output, you will lose points if you don’t. a) Compare house prices versus size. Which one is the explanatory variable and which one is the response variable? b) Using the appropriate explanatory and response variables from (a), what is the regression line for this case? c) Provide the scatter plot for this. What is the correlation coefficient? Does it make sense based on the scatter plot? d) What is the coefficient of determination (R2 ) for this situation? Explain what it means (interpret). e) Run a hypothesis test for the slope of the regression line to see if it is greater than 0, suggesting that the size (in square feet) has a positive influence on price of house. Let the level of significance be 0.01. Show the 4 steps for Hypothesis Testing here. 2. Water hardness. In an investigation of environmental causes of disease, data were collected on the annual mortality rate (deaths per 100,000) for males in 61 large towns in England and Wales. In addition, the water hardness was recorded as the calcium concentration (parts per million, or ppm) in the drinking water. Here are the scatterplot and regression analysis of the relationship between mortality and calcium concentration, where the dependent variable is Mortality. a) Create a 95% confidence interval for the slope of the true line relating calcium concentration and mortality. SHOW YOUR CALCULATION. b) Interpret your interval in context: what does it mean in terms mortality?

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