A property sells for $130,000. If a seller pays 6% commission and $800 in closing costs, what are the net proceeds?
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Answer:
NO, as per study, I cant see any other problem than the sample size in the procedure.
From the graph there is a slight quadratic relationship between temperature and number of O-rings.
As in the graph, we can see that above 50°F but below 55°F number of O-rings in 3 but after 55°F as temperature goes on increasing the number of O-rings decreases and remains constant up to 70°F and above 70°F the number of O-rings increases to 2. Hence, we can say that there is a relationship between temperature and number of O-rings.
If we want to fit a linear regression through these seven observations, the slope would be positive as linear regression line passes through the average.
Looking at the relationship, slope must be significantly different from zero as there is a relationship between two variables, where as slope significantly zero implies no relationship. However, we have only seven points so drawing a conclusion is difficult as the nature of the relationship is not clearly visualized by this graph.
