3. Click on DataData AnalysisRegressionOK. Highlight your data (including your t

Question

3. Click on DataData AnalysisRegressionOK. Highlight your data (including your two headings) and input the correct columns into Input Y Range and Input X Range, respectively. Make sure to check the box entitled “Labels”. Paste these regression analysis results here as part of your answer to this question. This is needed to enable the instructor to check the accuracy of your answers.

(a) What is the Coefficient of Correlation between square footage and listing price? The Coefficient of Correlation between square footage and listing price is 0.55185

(b)Does your Coefficient of Correlation seem consistent with your answer to #2 above? Why or why not?  

SUMMARY OUTPUT Regression Statistics Multiple R 0.745908712 R Square 0.556379806 Adjusted R Square 0.55185 Standard Error 0.640266564 Observations 100 ANOVA df SS MS F Significance F Regression 1 50.38575523 50.3857552 122.909691 5.4037E-19 Residual 98 40.17424477 0.40994127 Total 99 90.56 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 2.155236484 0.168233836 12.8109572 1.1691E-22 1.82138191 2.48909106 1.82138191 2.48909106 Square Footage 0.000709473 6.39945E-05 11.0864643 5.4037E-19 0.00058248 0.00083647 0.00058248 0.00083647

Explanation / Answer

(a) What is the Coefficient of Correlation between square footage and listing price? The Coefficient of Correlation between square footage and listing price is 0.55185 .

Ans: The Coefficient of Correlation between square footage and listing price measure the strength and direction of the linear relationship between these two random variables. The estimated Coefficient of Correlation between square footage and listing price is 0.55185 indicate that they are positively correlate that if increase in square footage increase the listing price, and its value is 0.55185, so, their strength is medium. (The range of correlation coefficient is 0 to 1).

(b)Does your Coefficient of Correlation seem consistent with your answer to #2 above? Why or why not?

You did not attach the above question #2. So, I can not answer.

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