B SECTION 4 1 4 1 Predicting Land Value Both scatterplots
Last updated: 5/7/2023
B SECTION 4 1 4 1 Predicting Land Value Both scatterplots concern the assessed value of land with homes on the land and both depict the same observations A b If you were trying to predict the value of a parcel of land on which there is a home in this area would you be able to make a better pre diction by knowing the acreage or the number of rooms in the house Explain Source Minitab File Student 12 Assess a Which do you think has a stronger relationship with value of the land the number of acres of land or the number of rooms in the homes Why Value of Land thousands of dollars Value of Land thousands of dollars 140 100 80 60 120 100 80 120 40 140 60 40 1 0 5 0 7 5 2 3 Acreage 4 5 10 0 12 5 15 0 17 5 Rooms 6 4 2 Predicting Total Value of Property Both scatterplots con cern the total assessed value of properties that include homes and both depict the same observations a Which do you think has a stronger relationship with value of the prop erty the number of square feet in the home shown in part B of the figure or the number of fireplaces in the home shown in part A of the figure Why b If you were trying to predict the value of a property where there is a home in this area would you be able to make a better prediction by knowing the number of square feet or the number of fireplaces Explain A B Value of Car dollars Total Value thousands of dollars Total Value thousands of dollars 4 0 500 3 5 400 3 0 300 2 5 200 100 500 400 300 16000 14000 12000 10000 8000 6000 4000 2000 0 200 100 0 4 3 Car Value and Age of Student The scatterplot shows the age of students and the value of their cars according to the Kelley Blue Book Does it show an increasing trend a decreasing trend or very little trend Explain 500 1 2 3 4 5 Number of Fireplaces 6 1000 1500 2000 2500 3000 3500 Number of Square Feet 20 25 4 4 Shoe Size and GPA The figure shows a scatterplot of shoe size and GPA for some college students Does it show an increasing trend a decreasing trend or no trend Is there a strong relationship 30 35 40 45 50 Age of Student