THI6.4 Linear Regression with Monopoly ActivityHMONOPOLYHI2.GOInvestigating Monopoly -Is there an association betweenspaces from "Go" and propertycost?-- Spaces from Go and Cost of PropertyData, Formulas, and PredictionHere we look at entering data with an eye toward using the values of one attribute topredict another.PropertyMediterranean AvenueBaltic AvenueReading RailroadOriental AvenueVermont AvenueConnecticut AvenueSt. Charles PlaceElectric CompanyStates AvenueVirginia AvenuePenn RailroadSt. James PlaceTennessee AvenueNew York AvenueKentucky AvenueIndiana AvenueIllinois AvenueB & O RailroadAtlantic AvenueVentnor AvenueWater WorksMarvin GardensPacific AvenueNth Carolina Avenueennsylvania AvenueShort Line RailroadPark PlaceBoardwalkSpaces from GO13568911121314151618192123242526272829313234353739Cost6060200100100120140150140160200180180200220220240200260260150280300300320200350400 1. Construct a scatterplot of (Spaces from Go, and property Cost).2. Describe the association between the two variables? (Direction, form, strength, context).3. What is the regression equation? Write it both as ŷ = a + bx and with the contextual variablenames.4. Compute the value of the centroid (x, y) and label it on the plot.5. Show how the regression line goes through the centroid. (Plug x into the equation.)6. Find and interpret the meaning of the slope of the regression line in the context of the problem.7. Find and interpret the y-intercept of the regression line in the context of the problem.8. Calculate the value of the residual for Waterworks (Space 28). Show your work.9. What is the value of the correlation coefficient? Give two reasons why this numerical valuemakes sense.

Given the data asPropertySpaces from GOCostMediterranean Avenue160Baltic Avenue360Reading…

1. Construct a scatterplot of (Spaces from Go, and property Cost). 2. Describe the association between the two variables? (Direction, form, strength, context). 3. What is the regression equation? Write both as ŷ = a + bx and with the contextual variable names. 4. Compute the value of the centroid (x,y) and label it on the plot. 5. Show how the regression line goes through the centroid. (Plug into the equation.) 6. Find and interpret the meaning of the slope of the regression line in the context of the problem 7. Find and interpret the y-intercept of the regression line in the context of the problem. 8. Calculate the value of the residual for Waterworks (Space 28). Show your work. 9. What is the value of the correlation coefficient? Give two reasons why this numerical value makes sense.