Correlations Sale Price (millions of Size (thousands of sqLand-To-Building dolla
ID: 3050041 • Letter: C
Question
Correlations Sale Price (millions of Size (thousands of sqLand-To-Building dollars) ft.) Ratio Sale Price (millions of dollars) Pearson Correlation 1.000 700 024 10 1.000 332 348 10 .577 081 10 1.000 Sig. (2-tailed) 10.000 700 024 10 332 348 10 Size (thousands of sq. ft.) Pearson Correlation Sig. (2-tailed) 10.000 .577 081 10 Land-To-Building Ratio Pearson Correlation Sig. (2-tailed) 10.000 Correlation is significant at the 0.05 level (2-tailed). Please show all your work and answers in the spaces provided a) Find the value of the correlation coefficient between sale price and size of property. You do not need to interpret this value b) If size were instead measured in thousands of square meters, would the correlation between size and land-to- building ratio change? Interpret the value from (a). If you did not obtain a value, interpret the (incorrect) value of 0.95 c)Explanation / Answer
a) Correlation Coefficient is 0.700
b) No, Correlation between size and land to building ratio did not change
c) It means there is moderate positive relationship between size and land to building ratio