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  3. square footage (thousands) price of house thousan

Square footage (thousands) Price of house thousands 2.7 478 2.3 328 2.3 309 1.8 298 1.9 303 2.1 466 1.4 328 1.6 385 2.1 360 2.9 374 2.2 387 2.6 452 2.1 462 1.8 436 1.9 424 0.95 308 1.3 430 1.9 449 2.2 325 1.2 358 1.4 467 1.8 489 1.2 485 1.1 450 1.4 353 1.8 358 2.3 443 1.7 422 1.3 368 1.5 416 data for the selling prices of homes in a ZIP...

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Statistics

Square footage (thousands)Price of house thousands
2.7478
2.3328
2.3309
1.8298
1.9303
2.1466
1.4328
1.6385
2.1360
2.9374
2.2387
2.6452
2.1462
1.8436
1.9424
0.95308
1.3430
1.9449
2.2325
1.2358
1.4467
1.8489
1.2485
1.1450
1.4353
1.8358
2.3443
1.7422
1.3368
1.5416

data for the selling prices of homes in a ZIP code and thesquare footage of those homes. Use the Spearman rank correlation todetermine if there is a significant correlation between the homeprice and the square footage.

Answer & Explanation Solved by verified expert
3.9 Ratings (379 Votes)

Square footage (thousands) Price of house thousands Rank(X) Rank(Y) Difference, d d²
2.7 478 2 3 -1 1
2.3 328 5 24.5 -19.5 380.25
2.3 309 5 27 -22 484
1.8 298 16.5 30 -13.5 182.25
1.9 303 13 29 -16 256
2.1 466 10 5 5 25
1.4 328 23 24.5 -1.5 2.25
1.6 385 20 17 3 9
2.1 360 10 20 -10 100
2.9 374 1 18 -17 289
2.2 387 7.5 16 -8.5 72.25
2.6 452 3 7 -4 16
2.1 462 10 6 4 16
1.8 436 16.5 11 5.5 30.25
1.9 424 13 13 0 0
0.95 308 30 28 2 4
1.3 430 25.5 12 13.5 182.25
1.9 449 13 9 4 16
2.2 325 7.5 26 -18.5 342.25
1.2 358 27.5 21.5 6 36
1.4 467 23 4 19 361
1.8 489 16.5 1 15.5 240.25
1.2 485 27.5 2 25.5 650.25
1.1 450 29 8 21 441
1.4 353 23 23 0 0
1.8 358 16.5 21.5 -5 25
2.3 443 5 10 -5 25
1.7 422 19 14 5 25
1.3 368 25.5 19 6.5 42.25
1.5 416 21 15 6 36

Σd² = 4289.5

n = 30

rs = 1 - 6Σd²/(n*(n²-1)) = 1 - 6*4289.5/(30*(30² -1)) = 0.0457

df = n-2 = 28

p-value = 0.8105

As p-value > 0.05, we can conclude that there is no significant correlation between the home price and the square footage.
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