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Regression analysis

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12.55 Choose the Commercial Real Estate data set below. Select Size as independent variable and Assessed Value as dependent variable.

Assessed Size
1,796 4,790
1,544 4,720
2,094 5,940
1,968 5,720
1,567 3,660
1,878 5,000
949 2,990
910 2,610
1,774 5,650
1,187 3,570
1,113 2,930
671 1,280
1,678 4,880
710 1,620
678 1,820

(a) Make and display a scatter plot with Size as independent variable and Assessed Value as dependent variable.
(b) Estimate the regression line, with fitted equation and R2

(c) Describe the fit of the regression.

(d) Interpret the slope of the regression line. In your discussion state the units of the slope.
(e) Do you think that the estimated intercept is meaningful? Explain.

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Solution Summary

Step by step method for computing regression equation and scatter plot for a given set of data.

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