Is There an Association Between Spaces From Go and Property Cost?
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- AP Statistics - Chapter 3 - Scatterplots, Correlation, and Regression - Monopoly Example
- Descriptive Statistics: Spaces From Go, Cost
- Regression Analysis: Cost versus Spaces From Go
- Regression Analysis: Cost versus Spaces From Go – *** Removed Influential Points ***
- Scatterplots
- Residual Plots
Is There an Association Between Spaces From Go and Property Cost?
Scatterplots,_Correlation,_and_Regression_-_Monopoly_Example'>AP Statistics - Chapter 3 - Scatterplots, Correlation, and Regression - Monopoly Example Define the explanatory and response variables. Draw a scatterplot of (Spaces From Go, Cost). Make the scatterplot reasonable size (not too small). Sketch the line of best fit. Does there appear to be an association between the two variables? Describe the data (association, form, strength, unusual features). Find the Coefficient of Correlation, r. Describe what r means. Find a “Line of Best Fit” by hand: y = mx+b. The LSRL always goes through point ____________. Find the LSQRL using your calculator. Find the LSQRL using the Minitab Output for “Descriptive Statistics” Find the LSQRL using the Minitab Output for “Regression Analysis” What does b represent? What does m represent? Are there any unusual points? What are they? What is a residual? What is the formula for finding a residual? Find the residuals. Create a residual plot. Comment on what you notice. Is your model a good linear fit? Explain (use numerical and graphical summaries). Find the standard deviation of the residuals. What does this mean? Predict the cost of a “new property” that is 10 spaces from Go. Write a sentence describing your prediction. Predict the cost of a “new property” that is 38 spaces from Go. Write a sentence describing your prediction. Predict the cost of a “new” property that is 50 spaces from Go. Write a sentence describing your prediction. Find r squared. Describe what it means. Descriptive Statistics: Spaces From Go, Cost Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3 Spaces From Go 28 0 20.04 2.07 10.94 1.00 11.25 20.00 28.75 Cost 28 0 203.2 16.0 84.5 60.0 142.5 200.0 260.0
Spaces From Go 39.00 Cost 400.0
Cost = 67.3 + 6.78 Spaces From Go Predictor Coef SE Coef T P Constant 67.28 16.49 4.08 0.000 Spaces From Go 6.7845 0.7255 9.35 0.000 S = 41.2240 R-Sq = 77.1% R-Sq(adj) = 76.2% Analysis of Variance Source DF SS MS F P Regression 1 148626 148626 87.46 0.000 Residual Error 26 44185 1699 Total 27 192811
Spaces
Obs From Go Cost Fit SE Fit Residual St Resid 3 5.0 200.00 101.21 13.40 98.79 2.53R 21 28.0 150.00 257.25 9.70 -107.25 -2.68R 26 35.0 200.00 304.74 13.36 -104.74 -2.69R R denotes an observation with a large standardized residual. Regression Analysis: Cost versus Spaces From Go – *** Removed Influential Points *** The regression equation is Cost = 43.2 + 8.24 Spaces From Go Predictor Coef SE Coef T P Constant 43.153 6.747 6.40 0.000 Spaces From Go 8.2377 0.3025 27.23 0.000 S = 15.7564 R-Sq = 97.0% R-Sq(adj) = 96.9% Analysis of Variance Source DF SS MS F P Regression 1 184106 184106 741.57 0.000 Residual Error 23 5710 248 Total 24 189816
Spaces
Obs From Go Cost Fit SE Fit Residual St Resid 10 15.0 200.00 166.72 3.46 33.28 2.17R 17 25.0 200.00 249.10 3.53 -49.10 -3.20R 25 39.0 400.00 364.42 6.63 35.58 2.49R R denotes an observation with a large standardized residual. Scatterplots Draw a scatterplot of (Spaces From Go, Cost). 
Residual Plots Create a residual plot with the monopoly data. Comment on what you see.  Directory: SiSFiles -> Schools Schools -> Ap u. S. History presidents list the Young Republic, 1788-1815 Schools -> Introduction Schools -> Cutting Greenhouse Gases Global warming Schools -> Birth of a Monster on the left hand side of the page. Read all the interesting information as you make your way down to the chart which outlines the steps in hurricane formation. Hurricane Formation Schools -> History of the American Automobile Schools -> Exploring Hurricanes Schools -> Famous Alabamians: Athletes Schools -> Hubble Space Telescope Download 70.83 Kb. Share with your friends:
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