The table below contains the value (in dollars) and the amount of annual rental income (in dollars) for a random sample of 45 houses.X, value Y, annual rental income289000 11648194000 11232140000 956877000 4576165000 13312125000 7904145000 8320310000 1248085000 707281000 665667500 6864155000 7488174000 10400225000 1248090000 6240270000 12896300000 12480130000 9776262000 10192200000 8320303000 12272244500 11232148000 8320121000 12064115000 7904240000 11648325000 12480135000 7488110000 7072170000 9568170000 12688165000 8528240000 12064208000 10400104000 790475000 7280190000 8320178000 11856240000 10192214000 8528200000 10608200000 12272126000 6240135000 8320200000 10400a) State the random variables.    rv X = of     rv Y = of b) The symbol and value of the correlation coefficient are as follows:    Round final answer to 3 decimal places.    =     Interpret this value:There is a strong relation between value and annual rental income for houses.c) The symbol and value of the coefficient of determination are as follows:    Round final answer to 3 decimal places.    =      Interpret this value:About % of the explained by the linear model with as its variable.

The table below contains the value (in dollars) and the amount of annual rental income (in dollars) for a random sample of 45 houses.X, value Y, annual rental income289000 11648194000 11232140000 956877000 4576165000 13312125000 7904145000 8320310000 1248085000 707281000 665667500 6864155000 7488174000 10400225000 1248090000 6240270000 12896300000 12480130000 9776262000 10192200000 8320303000 12272244500 11232148000 8320121000 12064115000 7904240000 11648325000 12480135000 7488110000 7072170000 9568170000 12688165000 8528240000 12064208000 10400104000 790475000 7280190000 8320178000 11856240000 10192214000 8528200000 10608200000 12272126000 6240135000 8320200000 10400a) State the random variables.    rv X = of     rv Y = of b) The symbol and value of the correlation coefficient are as follows:    Round final answer to 3 decimal places.    =     Interpret this value:There is a strong relation between value and annual rental income for houses.c) The symbol and value of the coefficient of determination are as follows:    Round final answer to 3 decimal places.    =      Interpret this value:About % of the explained by the linear model with as its variable.

Average Family Income Rentals 62 705 41 525 27 309 45 498 50 623 47 425 44 314 28 203 30 465 41 540 47 605 62 690 Create an Excel spreadsheet and enter the data using income as the independent variable (predictor) and number of daily rentals as the dependent variable (criterion). (a) Use Excel’s 1⁄4 correl function to find the correlation between these two variables, and round off the result to two decimal places. (b) Create an XY scatterplot of these two sets of data such that: • Top title: RELATIONSHIP BETWEEN INCOME AND RENTALS/DAY • x-axis title: AVERAGE FAMILY INCOME ($000) • y-axis title: RENTALS (per day) • re-size the chart so that it is 8 columns wide and 25 rows long • move the chart below the table (c) Create the least-squares regression line for these data on the scatterplot. (d) Use Excel to run the regression statistics to find the equation for the least squares regression line for these data and display the results below the chart on your spreadsheet. Use number format (2 decimal places) for the correlation and for the coefficients Now, answer these questions using your Excel: (1) What is the y-intercept? (2) What is the slope of the line? (3) What is the regression equation for these data (use two decimal places for the y-intercept and the slope)? (4) Use the regression equation to predict the average number of daily rentals you would expect for a retail area that had an average family income of $50,000.

If the coefficient of correlation between two variables is –0 9, then the coefficient of determination is(a) 0.9(b) 0.81(c) 0.1(d) 0.19.

A bivariate relationship has a correlation coefficient ( � ) (r) of 0.78. 0.78. Identify the coefficient of determination of this relationship:

If for two variable x and y, the covariance, variance of x and variance of y are40, 16 and 256 respectively, what is the value of the correlation coefficient?(a) 0.01(b) 0.625(c) 0.4(d) 0.5