Answer to Question #342245 in Statistics and Probability for liv

Question

A real estate agent has compiled some data on the selling prices of recently sold homes (in $10 000) compared to their distance from the nearest school (in km). Distance From School (km) 8 7 9 10 4 11 2 11 1 2 12 5 9 8 3 1 6 Selling Price ($ 10 000) 20 17 9 25 10 5 6 31 31 29 2 18 23 12 24 2 15 The real estate agent runs a linear correlation and concludes that, with a correlation coefficient of 𝒓 ≐ −𝟎. 𝟏𝟎, there is no relationship between the distance from a school, and the selling price. Is this completely true? Comment on the validity of his result and provide an explanation for the result. (Hint: Look at a scatter plot of the data. It is not necessary to draw the scatter plot on your paper.) 

Answer 1

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