Question: Problem 1.74 The two columns of data in the table below are the living area X (in square feet) and the selling price $Y (in

Problem 1.74 The two columns of data in the table below are the living area X (in square feet) and the selling price $Y (in thousands of dollars) of 12 residential properties. Area(sq.feet) Price(thousands of dollars) 1360 78.5 1940 175.7 1750 139.5 1550 129.8 1790 95.6 1750 110.3 2230 260.5 1600 105.2 1450 88.6 1870 165.7 2210 225.3 1480 68.8

(a) Draw the scatter plot of selling price vs. area.

(b) Compute the slope and intercept of the regression line.

(c) A person builds a 300 square foot addition to her home. What value is added to the home?

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