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Table A, below, contains the value of the house and the amount of rental income in a year that the house brings in ("Capital and rental," 2013).

Table A, below, contains the value of the house and the amount of rental income in a year that the house brings in ("Capital and rental," 2013).: Expert Solutions for Success

1. Table A, below, contains the value of the house and the amount of rental income in a year that the house brings in ("Capital and rental," 2013). Create a scatter plot and find a regression equation between house value and rental income. Then use the regression equation to find the rental income a house worth $250,000 and for a house worth $380,000. Which rental income that you calculated do you think is closer to the true rental income? Why?

Table #A: Data of House Value versus Rental

Value	Rental	Value	Rental	Value	Rental
81000	6656	77000	4576	75000	7280
95000	7904	94000	8736	90000	6240
121000	12064	115000	7904	110000	7072
135000	8320	130000	9776	126000	6240
145000	8320	140000	9568	140000	9152
165000	13312	165000	8528	155000	7488
178000	11856	174000	10400	170000	9568
200000	12272	200000	10608	194000	11232
214000	8528	208000	10400	200000	10400
240000	10192	240000	12064	240000	11648
289000	11648	270000	12896	262000	10192
325000	12480	310000	12480	303000	12272

Answer

From the above calculations, and comparing the rentals incomes to the ones shown in table A, we can say that the rental income $11471.6 is closer to the true income. This is because the rental value 380000 is outside the data set provided in the table above.

statistics Stat-200 scatter plot Regression equation

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Table A, below, contains the value of the house and the amount of rental income in a year that the house brings in ("Capital and rental," 2013).: Expert Solutions for Success

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