Question

2. (14 points) Suppose a realtor would like to develop a model to predict the assessed value of single-family houses based on the number of square feet of heating area. A sample of 15 houses is selected in a city; the heating Area of the houses (in thousands of square feet) and the assessed Value (in thousands of dollars) are recorded. The table at right shows a portion of the data collected—as well as the means of each of these variables. The least squares line was found to be Value=51.915+16.633·Area, with r²=0.65934 and se = 2.91893. Predict the assessed value of the home at 6218 East Windsor Place with 1,900 square feet of heating area, and provide a 90 percent confidence/prediction (whichever is appropriate) interval on this value. Note: SSxx=0.77484, SSyy=SST=325.136, SSxy=12.8882, and SSE=110.7618. House Area Value 1 2.00 84.4 2 1.71 77.4 : : : 14 1.89 83.8 15 1.59 76.8 Mean: 1.662 79.56 Answer: The assessed value of the home is expected to be $, with a 90 percent confidence/prediction interval from $ to $.

          2. (14 points) Suppose a realtor would like to develop a model to predict the assessed value of single-family houses based on the number of square feet of heating area. A sample of 15 houses is selected in a city; the heating Area of the houses (in thousands of square feet) and the assessed Value (in thousands of dollars) are recorded. The table at right shows a portion of the data collected—as well as the means of each of these variables. The least squares line was found to be Value=51.915+16.633·Area, with r²=0.65934 and se = 2.91893. Predict the assessed value of the home at 6218 East Windsor Place with 1,900 square feet of heating area, and provide a 90 percent confidence/prediction (whichever is appropriate) interval on this value. Note: SSxx=0.77484, SSyy=SST=325.136, SSxy=12.8882, and SSE=110.7618.

House Area Value
1 2.00 84.4
2 1.71 77.4
: : :
14 1.89 83.8
15 1.59 76.8
Mean: 1.662 79.56

Answer: The assessed value of the home is expected to be $________,
with a 90 percent confidence/prediction interval from $________ to $________.

2. (14 points) Suppose a realtor would like to develop a model to predict the assessed value of single-family houses based on the number of square feet of heating area. A sample of 15 houses is selected in a city; the heating Area of the houses (in thousands of square feet) and the assessed Value (in thousands of dollars) are recorded. The table at right shows a portion of the data collected—as well as the means of each of these variables. The least squares line was found to be Value=51.915+16.633·Area, with r²=0.65934 and se = 2.91893. Predict the assessed value of the home at 6218 East Windsor Place with 1,900 square feet of heating area, and provide a 90 percent confidence/prediction (whichever is appropriate) interval on this value. Note: SSxx=0.77484, SSyy=SST=325.136, SSxy=12.8882, and SSE=110.7618.

House Area Value
1 2.00 84.4
2 1.71 77.4
: : :
14 1.89 83.8
15 1.59 76.8
Mean: 1.662 79.56

Answer: The assessed value of the home is expected to be ,
with a 90 percent confidence/prediction interval from to .

Added by Brandon R.

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