Acreage and Value. The document Arizona Residential Property Valuation System, published by the Arizona Department of Revenue, describes how county assessors use computerized systems to value single-family residential properties for property tax purposes. On the Weiss Stats site are data on lot size (in acres) and assessed value (in thousands of dollars) for a sample of homes in a particular area.

a. Obtain a scatterplot for the data.

b. Decide whether finding a regression line for the data is reasonable. If so, then also do parts (c) - f).

The Arizona Department of Revenue's document Arizona Residential Property Valuation System

explains how county assessors use computerized systems to evaluate single-family residential homes for property tax purposes.

Data on lot size (in acres) and assessed value (in thousands of dollars) for a sample of dwellings in

a given location can be found on the Weiss Stats website.

Determine the scatter plot for the given data.

The MINITAB: can be used to create a scatterplot for the given data.

Step 1: Select Graph > Scatterplotfrom the drop-down menu.

Step 2: Click OKafter selecting With Connect Line.

Step 3: Add a VALUEcolumn to the Y variables section.

Step 4: Add a LOT SIZE column to the X variables section.

Step 5: Click theOKbutton.

The scatterplot obtained will be,

Determine whether or not it is reasonable to seek out the regression line.

Finding a regression line for the supplied data is not feasible because the points do not form a linear pattern.

Furthermore, the data contains several significant observations and outliers.

As a result, the

presented data does not form a linear pattern, making the regression line impossible to detect.