Question: An article on the cost of housing in California that

An article on the cost of housing in California that appeared in the San Luis Obispo Tribune (March 30, 2001) included the following statement: “In Northern California, people from the San Francisco Bay area pushed into the Central Valley, benefiting from home prices that dropped on average $4000 for every mile traveled east of the Bay area.” If this statement is correct, what is the slope of the least-squares regression line, y^ = a 1 bx, where y = house price (in dollars) and x 5 distance east of the Bay (in miles)? Explain.

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  • CreatedSeptember 19, 2015
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