Answer Happy

13.1 Part A. Insert your scatter plot below Equation of the line: Part B. Meaning of bo Meaning of b1 Parts C-G Mean Taxes r-square R square meaning Be sure to include your graphs Evaluate Your Regression assumptions-L.I.N.E Is there evidence of a linear relationship? Conclusions? Address 2915 Wiulton Avenue 9621 Sutherland 10315 Royal Road 2419 Briggs Chaney Road 1706 Hutchison Lane 13409 Rippling Brook Drive 8917 Whitney Street 12906 Hawkshead Terrace 2308 Peggy Lane 112 Southwood Avenue 1514 Gridley Lane 1167 Kersey Road 15810 Bradford Road Assessed Value Taxes 426.7 5013 368.3 3696 310.8 3694 375.5 5199 446.4 4462 507.4 5185 341.8 3412 343.4 3930 433.4 4397 3269 291.8 2876 398.1 390.8 4725 328.5 4015 You want to develop a model to predicat taxes of houses based on their assessed value. A sample of 30 houses are given on the left. The taxes (in $) and the assessed value in $ thousands are given. Be sure to correctly identify the independent and dependent variables. A) construct a scatter plot and assuming a linear relationship, use the least-squares method to compute the regression coefficients bo and b1. B) Interpret the meaning of bo and b1 relative to this problem. C) Use the prediction line from part a to predict the mean taxes for a house whose assessed value is $400,000 D) Determine the coefficient of determination r squared and interpret its meaning in this problem. E). Perform a residual analysis on your results and evaluate all of the regression assumptions (L.I.N.E.) F) What conclusions can you reach concerning the relationship between taxes and assessed value 521 Ridgeway Drive 1957 Seminary Road 9520 Colesville Road 500 Rockford Drive 10906 Fiesta Road 2200 Nees Lane 1314 Gresham Road 10209 Grant Avenue 22 Eastmoor Drive 1118 Chickasaw Drive 11529 Daffodil Drive 13512 Sherwood Forest Drive 10014 Lorain Avenue 1412 Flora Terrace 728 Richmond Avenue 12401 Vinton Terrace 111 Heil Road 480.0 4892 479.5 4887 389.3 3921 371.6 3731 312.7 3100 342.1 3635 305.5 3536 275.9 3426 456.6 4641 231.8 4011 449.6 4566 507.9 5944 307.0 3039 349.9 3499 411.9 3377 276.0 2707 337.4 4308 Note: The data analysis tool will create all of the charts for you and provide most of your needed info