Exploratory analysis of the data, Basic Statistics

The Home Improvement Company (HIC) operates five stores in a large regional area. The company wished to study the relationship between x, house value ($'000) and Y, yearly expenditure on house maintenance ($ upkeep) as a basis for promoting the types of products it sells.

A random sample of the owners of 40 houses was taken. They were asked to estimate their maintenance expenditure on the types of products HIC sells. HIC then contacted real estate agents to value the houses. See the data file.

The task of modelling the relationship between Upkeep (Y) and Value (x) was assigned to an analyst within HIC. All the data had been validated and the analyst was instructed not to delete data for 'statistical convenience'.

Part (a)

You are to decide which of the three models below are most appropriate, where Y = estimated maintenance spend (upkeep) and x = house value

Y= β0 + β1x +ε

Log(Y) = β01x +ε

√y = β01x +ε

Your report for Part (a) should start with an exploratory analysis of the data, and then three sections, detailing the analyses of models (1), (2) and (3) and then a short recommendation.

You should analyse and report leverage points and outliers where appropriate using the template below but you cannot remove any data.

Posted Date: 2/25/2013 6:18:21 AM | Location : United States







Related Discussions:- Exploratory analysis of the data, Assignment Help, Ask Question on Exploratory analysis of the data, Get Answer, Expert's Help, Exploratory analysis of the data Discussions

Write discussion on Exploratory analysis of the data
Your posts are moderated
Related Questions
what is the largest coefficient of (1+3x)^4 is ?



Susan’s proposed budget for 2011 includes a substantial repayment of the bank loan. If the repayment occurs, is the firm likely to break even in 2012? Explain.

Acceptance Region A term related with the statistical signi?cance tests, which provides the set of values of a test statistic for which the null hypothesis cannot rejected. Supp

2. Two disks, each of radius 10.0 cm, are charged so that one has a charge of +10.0 nC and the other has a charge of -10.0 nC. The disks are then placed with their flat faces facin

Budgets and budgetary control A fund is an operating plan for a business, ready in progress. Funds may be set in money conditions, egg a revenue funds of £500,000, or it can

Bond redemption The regaining of control of bonds formerly issued by expense of amount due to the owner.

Can you do my accounting assignment?

pzl give me ans