Property assessments. The data that follow show assessed value for property tax purposes (Y"in thousand dollars) and sales price(Y2 ,in thousand dollars) for a sample of 15 parcels of land for...

Property assessments. The data that follow show assessed value for property tax purposes

(Y"in thousand dollars) and sales price(Y2 ,in thousand dollars) for a sample of 15 parcels

of land for industrial development sold recently in "arm's length" transactions in a tax district.

Assume that bivariate normal model (2.74) is appropriate here.

a. Plot the data in a scatter diagram. Does the bivariate normal model appear to be appropriate

here? Discuss.