Scatterplot between the square-foot area

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Reference no: EM13963633

The following data give the area (in square feet) and the sale prices (approximated to the nearest $1000) of homes that were sold in a particular city in a 6-week period of 2003.

Area: 1123

1028

1490

2172

2300

1992

3200

3063

3720

7228

720

943

904

912

1031

1152

1482

1426

1491

1184

1650

1392

1755

2062

2495

3253

5152

1270

1723

1161

1220

837

1446

2442

2300

2518

Price: 75

75

102

149

152

154

327

425

625

775

53

57

66

68

75

86

90

93

95

95

104

105

135

159

169

253

725

67

85

110

65

74

95

156

183

207

(a) Obtain a dotplot and describe the home price data.

(b) Identify any outliers and test for normality with and without outliers for home price data. If the data are not normal, does any simple transformation make the data normal?

(c) Obtain a 95% con?dence interval for home price.

(d) Do parametric or nonparametric methods seem more appropriate for the data?

(e) Obtain a scatterplot between the square-foot area of a home and its price.

(f) Fit a least-squares regression line and run a residual model diagnostics using Minitab.

Reference no: EM13963633

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