Construct a scatter plot in Excel with
FloorArea
as the independent variable and
AssessmentValue
as the
dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a
linear relationship between the 2 variables?
Y=0.307x + 162.663
R^2= 0.938
There is a linear relationship between the two variables. As the floor area increase in size, the assessed
value increases as well.
Use Excel's Analysis ToolPak to conduct a regression analysis of
FloorArea
and
AssessmentValue
. Is
FloorArea
a significant predictor of
AssessmentValue
?
Regression
Statistics
R^2
0.93771762
0775008
Standard
Error
115.599303
937698
Count of X
variables
1