A Realtor Collected the Following Data for a Random Sample

question 86

Essay

A realtor collected the following data for a random sample of ten homes that recently sold in her area.

$$\begin{array} { | c | c | c | } \hline \text { House } & \text { Asking Price } & \text { Days on Market } \\\hline \text { A } & \$ 114,500 & 29 \\\hline \text { B } & \$ 149,900 & 16 \\\hline \text { C } & \$ 154,700 & 59 \\\hline \text { D } & \$ 159,900 & 42 \\\hline \text { E } & \$ 160,000 & 72 \\\hline \text { F } & \$ 165,900 & 45 \\\hline \text { G } & \$ 169,700 & 12 \\\hline\end{array}$$ $$\begin{array} { | c | c | c | } \hline \mathrm { G } & \$ 169,700 & 12 \\\hline \mathrm { H } & \$ 171,900 & 39 \\\hline \mathrm { I } & \$ 175,000 & 81 \\\hline \mathrm { J } & \$ 289,900 & 121 \\\hline\end{array}$$
a. Construct a scattergram for the data.
b. Find the least squares line for the data and plot the line on your scattergram.
c. Test whether the number of days on the market, y, is positively linearly related to the asking price, $x \text {. Use } \alpha = .05$

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Definitions:

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