A Property Manager Wants to Estimate the Annual Costs of Window

question 6

Essay

A property manager wants to estimate the annual costs of window cleaning for a newly acquired office building. She collected the following information related to costs of the 10 properties she currently manages:
Σxi = 17,470 Σx 2 = 34,125,100, where x is the window surface (ft2)
i Σyi = 1,350,955 Σy 2 = 203,605,360,640 and Σxiyi = 2,635,901,696, where y is the
i cleaning costs
Determine a CER equation for the cleaning costs and the correlation coefficient.

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Definitions:

Observations

Data collected during the course of a scientific study or experiment.

Variables

Elements, features, or factors that are likely to vary or change within the context of a study or experiment.

Descriptive Statistics

Statistical methods used to summarize and describe the main features of a data set, such as mean, median, and mode.

Descriptive Statistics

Descriptive statistics involve summarizing and organizing data so it can be understood and presented in a simpler form, including measures of central tendency and variability.