The accompanying data file shows the square footage and associated property taxes for 20 homes in an affluent suburb 30 miles outside of New York City. Click here for the Excel Data File a. Estimate a home's property taxes as a linear function of the size of the home (measured by its square footage). Note: Round your answers to 2 decimal places. Property taxes = + Size b. What proportion of the sample variation in property taxes is explained by the home's size? Note: Round your answer into 2 decimal places. Proportion of the sample variation % c. What proportion of the sample variation in property taxes is unexplained by the home's size? Note: Round your answer into 2 decimal places. Proportion of the sample variation %
The accompanying data file shows the square footage and associated property taxes for 20 homes in an affluent suburb 30 miles outside of New York City. Click here for the Excel Data File a. Estimate a home's property taxes as a linear function of the size of the home (measured by its square footage). Note: Round your answers to 2 decimal places. Property taxes = + Size b. What proportion of the sample variation in property taxes is explained by the home's size? Note: Round your answer into 2 decimal places. Proportion of the sample variation % c. What proportion of the sample variation in property taxes is unexplained by the home's size? Note: Round your answer into 2 decimal places. Proportion of the sample variation %
Chapter16: Real Estate And High-risk Investments
Section: Chapter Questions
Problem 1DTM
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Transcribed Image Text:The accompanying data file shows the square footage and associated property taxes for 20 homes in an affluent suburb 30 miles
outside of New York City.
Click here for the Excel Data File
a. Estimate a home's property taxes as a linear function of the size of the home (measured by its square footage).
Note: Round your answers to 2 decimal places.
Property taxes =
+
Size
b. What proportion of the sample variation in property taxes is explained by the home's size?
Note: Round your answer into 2 decimal places.
Proportion of the sample variation
%
c. What proportion of the sample variation in property taxes is unexplained by the home's size?
Note: Round your answer into 2 decimal places.
Proportion of the sample variation
%
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