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Question

The accompanying data file shows the square footage and associated property taxes for 20 homes in an affluent suburb 30 miles outside New York City.

c. What proportion of the sample variation in property taxes is unexplained by the home's size?

Solution

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Answered 1 year ago

Step 1

1 of 4We are given a sample of $n=20$ property taxes and corresponding sizes.

Denote the response variable (property tax) with $y$ and explanatory variable (size) with $x$.

The goal of this task is to determine how much of the variation in the given sample of property taxes is left unexplained.

*How do we measure that share?*

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