Question

David's Landscaping has collected data on home values (in thousands of $) and expenditures (in thousands of $) on landscaping with the hope of developing a predictive model to help market to potential new clients. Data for households may be found in the file Landscape. Home Value ($1000) Landscape Expenditures ($1000) 242 8.1 321 10.8 198 12.2 340 16.2 300 15.6 400 18.9 800 23.5 200 9.5 521 17.5 547 22 437 12.1 464 14 635 17.9 356 13.9 If required, enter negative values as negative numbers. a. Select a scatter diagram with home value as the independent variable. A. B. C. - Select your answer - Graph A Graph B Graph C b. What does the scatter plot developed in part (a) indicate about the relationship between the two variables? The scatter diagram indicates a - Select your answer - negative positive linear relationship between the two variables. c. Use the least squares method to develop the estimated regression equation (to decimals). y = mx + b d. For every additional $1,000 in home value, estimate how much additional will be spent on landscaping (to decimals). $ e. Use the equation estimated in part (c) to predict the landscaping expenditures for a home valued at $ (to the nearest whole number). $

          David's Landscaping has collected data on home values (in thousands of $) and expenditures (in thousands of $) on landscaping with the hope of developing a predictive model to help market to potential new clients. Data for households may be found in the file Landscape.

Home Value ($1000)
Landscape Expenditures ($1000)
242
8.1
321
10.8
198
12.2
340
16.2
300
15.6
400
18.9
800
23.5
200
9.5
521
17.5
547
22
437
12.1
464
14
635
17.9
356
13.9

If required, enter negative values as negative numbers.

a. Select a scatter diagram with home value as the independent variable.

A.
B.
C.
- Select your answer -
Graph A
Graph B
Graph C

b. What does the scatter plot developed in part (a) indicate about the relationship between the two variables?

The scatter diagram indicates a - Select your answer -
negative
positive
linear relationship between the two variables.

c. Use the least squares method to develop the estimated regression equation (to decimals).
y = mx + b

d. For every additional $1,000 in home value, estimate how much additional will be spent on landscaping (to decimals).
$ 

e. Use the equation estimated in part (c) to predict the landscaping expenditures for a home valued at $ (to the nearest whole number).
$

Added by Philip G.

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