Hanna Properties specializes in custom home resales in the Equestrian Estates, an exclusive subdivision in Phoenix, Arizona. A random sample of nine custom homes currently listed for sale provided the following information on size and price. Here, x denotes size, in hundreds of square feet, rounded to the nearest hundred, and y denotes price, in thousands of dollars, rounded to the nearest thousand. For part (g), predict the price of a 2600-sq. ft. home in the Equestrian Estates.
a. Find the regression equation for the data points.
b. Graph the regression equation and the data points.
c. describe the apparent relationship between the two variables under consideration.
d. Interpret the slope of the regression line.
e. Identify the predictor and response variables.
f. Identify outliers and potential influential observations.
g. Predict the values of the response variable for the specified values of the predictor variable, and interpret your results.

  • CreatedAugust 13, 2015
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