The data from Exercise 4.68 for home size (in square feet) and assessed value (in thousands of dollars) for the same homes as in Exercise 4.97 are on the WeissStats CD.
a. Decide whether finding a regression line for the data is reasonable. If so, then also do parts (b)–(d).
b. Obtain the coefficient of determination.
c. Determine the percentage of variation in the observed values of the response variable explained by the regression, and interpret your answer.
d. State how useful the regression equation appears to be for making predictions.