4 26 1 point A quantitatively savvy, young couple is interested in purchasing a home in...

Transcribed Image Text:

4 26 1 point A quantitatively savvy, young couple is interested in purchasing a home in northern New York. They collected data on 48 houses that had recently sold in the area. They want to predict the selling price of homes (in thousands of dollars) based on the size of the home (in square feet). == The regression equation is Price (in thousands) = 17.1 +0.0643 Size (sq. ft.) Predictor Constant Coef 17.06 SE Coef T P 24.59 0.69 0.491 C Size (sq. ft.) 0.06427 0.01224 5.25 0.000 22 22 S=48.5733 R-Sq = 37.5% R-Sq(adj)=36.1% Predicted Values for New Observations 24 Size (sq. ft.) Fit SE Fit 95% CI 95% Pl 25 25 2000 145.61 7.07 (131.38, 159.83) (46.80, 244.41) 23 23 26 26 27 22 28 29 30 Construct a 95% confidence interval for the population slope. Note: t=2.013 00000 0.0397 to 0.0889 -0.0397 to 0.0259 0.0347 to 0.0849 0.0497 to 0.0789 -0.0197 to 0.0389 4 26 1 point A quantitatively savvy, young couple is interested in purchasing a home in northern New York. They collected data on 48 houses that had recently sold in the area. They want to predict the selling price of homes (in thousands of dollars) based on the size of the home (in square feet). == The regression equation is Price (in thousands) = 17.1 +0.0643 Size (sq. ft.) Predictor Constant Coef 17.06 SE Coef T P 24.59 0.69 0.491 C Size (sq. ft.) 0.06427 0.01224 5.25 0.000 22 22 S=48.5733 R-Sq = 37.5% R-Sq(adj)=36.1% Predicted Values for New Observations 24 Size (sq. ft.) Fit SE Fit 95% CI 95% Pl 25 25 2000 145.61 7.07 (131.38, 159.83) (46.80, 244.41) 23 23 26 26 27 22 28 29 30 Construct a 95% confidence interval for the population slope. Note: t=2.013 00000 0.0397 to 0.0889 -0.0397 to 0.0259 0.0347 to 0.0849 0.0497 to 0.0789 -0.0197 to 0.0389