One of the biggest factors in determining the value of a home is the square footage. The accompanying data represent the square footage and asking prices (in thousand of dollars) for a random sample of home for sales.
Square Footage, x Asking Prince ($000s), y
1,148 154
1,096 159.9
1,151 169
1,288 169.9
1,322 170
1,466 179.9
1344 180
1,544 189
1,494 189.9
a. Which variable is the explanatory variable?
b. Draw a scatter diagram of the data.
c. Determine the liner correlation coefficient between square footage and asking price.
d. find the least-square regression treating square footage as the explanatory variable.
e. Interpret the slope.
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