Square Footage Rent per Month mean for explanatory Variable Location mean for re

Question

Square Footage Rent per Month mean for explanatory Variable Location mean for response Variable 500 650 Queens 588 1215 2000 1655 1250 1805 2700 1200 1250 2350 3300 3100 1875 1075 1775 1050 1300 1475 1315 correlation coefficient coefficient determination Does a linear correlation exist? ina Queens Queens Queens Queens Queens Queens Queens 1000 688 825 460 Prediction on the 825-square foot 1259 650 560 1073 1452 1305 1100 588 1250 556 825 743 660 975 Queens Queens Queens Nassau County Nassau County Nassau County rovialC Nassau Count Nassau County Nassau County Nassau County Nassau County Nassau County 1400 1900 1650 4625 1395 1429 Nassau Coun 800 Nassau County 1906 1077 Nassau County

Explanation / Answer

Mean for explanatary variable is 877.875

Mean for response variable is 1804.5833

correaltion coefficent

r=1027411200-912498390/191352125.8

r=114912810/191352125.8

r=0.60053

therefore the correlation coefficent is 0.60053

coefficent of determination R2

r=0.60053

r2=0.60053*0.60053

r2=0.3603

therefore the coefficent of determination is 0.3603

slope=1.3380 (Using excel function =SLOPE(y values,x values))

prediction on the 825 square foot

Using Excel data analysis------>regression

The regression equation is Y=629.9170+1.3380X

prediction on the 825 square foot is

Y=629.9170+1.3380(825)

Y=629.9170+1103.85

Y=1733.767

prediction on the 825 square foot is 1733.767

square footage(X) rent per month(Y) 500 650 588 1215 1000 2000 688 1655 825 1250 460 1805 1259 2700 650 1200 560 1250 1073 2350 1452 3300 105 3100 1100 1875 588 1075 1250 1775 556 1050 825 1300 743 1475 660 1315 975 1400 1429 1900 800 1650 1906 4625 1077 1395 mean 877.875 1804.583333

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