Calculate the fitted y; for each value of x¡ used to fit the model. Then construct a graph of y; versus the correspon- ding observed value y, and comment on what this plot would look like if the relationship between y and x was a deterministic (no random error) straight line. Does the plot actually obtained indicate that taxes paid is an effec- tive regressor variable in predicting selling price?
Calculate the fitted y; for each value of x¡ used to fit the model. Then construct a graph of y; versus the correspon- ding observed value y, and comment on what this plot would look like if the relationship between y and x was a deterministic (no random error) straight line. Does the plot actually obtained indicate that taxes paid is an effec- tive regressor variable in predicting selling price?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
100%
APPLIED STATISTICS
UPVOTE WILL BE GIVEN.
YOU MAY USE EXCEL OR IBM SPSS. PLEASE WRITE/TYPE THE COMPLETE SOLUTIONS. TAKE A SCREENSHOT IF EXCEL OR SPSS IS BEING USED.
An article in Technometrics by S. C. Narula and J. F. Wellington (“Prediction, Linear Regression, and a Minimum Sum of Relative Errors,” Vol. 19, 1977) presents data on the selling price (y) and annual taxes (x) for 24 houses. The taxes include local, school and county taxes. The data are shown in the table below. Calculate the least square estimates of slope and intercept.
Answer letter D.
Transcribed Image Text:Sale Price/1000
25.9
29.5
27.9
25.9
29.9
29.9
30.9
28.9
35.9
31.5
31.0
30.9
30.0
36.9
41.9
40.5
43.9
37.5
37.9
44.5
37.9
38.9
36.9
45.8
Taxes/1000
4.9176
5.0208
4.5429
4.5573
5.0597
3.8910
5.8980
5.6039
5.8282
5.3003
6.2712
5.9592
5.0500
8.2464
6.6969
7.7841
9.0384
5.9894
7.5422
8.7951
6.0831
8.3607
8.1400
9.1416
Transcribed Image Text:(d) Calculate the fitted ŷ; for each value of x, used to fit the
model. Then construct a graph of ŷ, versus the correspon-
ding observed value y, and comment on what this plot
would look like if the relationship between y and x was a
deterministic (no random error) straight line. Does the
plot actually obtained indicate that taxes paid is an effec-
tive regressor variable in predicting selling price?
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