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02 STAT descriptive statistics 3-IC Q1

02 STAT descriptive statistics 3-IC Q1 - Dr V.R Bencivenga...

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Dr. V.R. Bencivenga Economic Statistics Economics 329 DESCRIPTIVE STATISTICS 3 INDEX CARD QUESTION 1 We have 14 observations on two variables, PH = price of a house (thousands of dollars), and SQFT = square feet of living area of the house. Let’s explore the relationship between PH and SQFT in this data set. For this sample 753 , 26 SQFT 14 1 i i 515 , 462 , 55 SQFT 14 1 i 2 i 9 . 444 , 4 PH 14 1 i i 01 . 039 , 513 , 1 PH 14 1 i 2 i 5 . 985 , 095 , 9 PH SQFT 14 1 i i i For any variables X and Y 2 n 1 i 2 i n 1 i 2 i X n X ) X X ( and similarly for Y. Also Y X n Y X ) X X )( Y Y ( n 1 i i i n 1 i i i It is common to use XX m , YY m and XY m to denote these quantities. Using this notation 1 n m S XX 2 X 1 n m S YY 2 Y 1 n m S XY XY

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a. What are the values of 2 , PH s and 2 SQFT s ? What is the value of SQFT , PH r ? b.
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02 STAT descriptive statistics 3-IC Q1 - Dr V.R Bencivenga...

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