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5. The following is house price ($ thousands) and annual crime rate in different neighborhoods of...

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Statistics

5. The following is house price ($ thousands) and annual crimerate in different neighborhoods of a midwestern city 130 150 200230 250 280 300 350 320 200 100 220 95 85 60 55 67 35 22 40 10 2035 15 a. Write the linear regression equation b. Explain theintercept and the slope in practical terms c. How much of thevariation in prices is explained by crime rate? d. Are we missingother important determinants of house price? like what?

Answer & Explanation Solved by verified expert
4.2 Ratings (705 Votes)
5 We will solve the regression via simpleRcodes The data input commands would be as below y x lmyxCalllmformula y xCoefficientsIntercept x 290087 1393Hence the regression equation would be b The intercept 290087 is    See Answer
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