The following table represents a sample of sale prices, in thousands of dollars, and number of
new homes available at that price in 2017
160/180 | 200 | 220 | 240 | 26 |
280
Sale Price, p
(in thousands of dollars)
Number of New Homes Available
fip)
126
103
82
751
40
20

The correlation Coefficient 'R' measures the strength of statistical relationship between the relative movement of two variables. The The value of R is -0.9543 in the question above.

This is a strong negative correlation, which means that high sales price of homes scores correlates with low number of new homes scores (and vice versa). Homes with high sales price have fewer number of new homes.

jayilych4real jayilych4real · Answer 2 · 2022-03-21T16:33:42+01:00

The correct answer to the given table based on the linear regression is:

Y = -0.79X + 249.86
R = -0.9543

What is Correlation Coefficient?

This refers to the number between -1 and +1 where the interdependence of two variables are shown.

Hence, based on the given table:

Sale Price :160 | 180 | 200 | 220 | 240 | 260 | 280

New home : 126 | 103 | 82 | 75 | 82 | 40 | 20

To find the Linear regression equation :

Y = -0.79X + 249.86

R= -0.9543

Hence, we can see that the correlation coefficient "R" is used to show the statistical relationship between the two variables.

As a result of the strong negative correlation, then there would be higher prices for homes and lower number of new homes.

Read more about correlation coefficient here:

https://brainly.com/question/4219149

The following table represents a sample of sale prices, in thousands of dollars, and number of new homes available at that price in 2017 160/180 | 200 | 220 | 240 | 26 | 280 Sale Price, p (in thousands of dollars) Number of New Homes Available fip) 126 103 82 751 40 20

Respuesta :

What is Correlation Coefficient?

Otras preguntas

The following table represents a sample of sale prices, in thousands of dollars, and number of
new homes available at that price in 2017
160/180 | 200 | 220 | 240 | 26 |
280
Sale Price, p
(in thousands of dollars)
Number of New Homes Available
fip)
126
103
82
751
40
20