A realtor collected the following data for a random sample of ten homes that recently sold in her area.

House	Asking Price	Days on Market
A	$114,500	29
B	$149,900	16
C	$154,700	59
D	$159,900	42
E	$160,000	72
F	$165,900	45
G	$169,700	12
H	$171,900	39
I	$175,000	81
J	$289,900	121

1. Using a scatterplot, describe the relationship between asking price and days on market.

2. Fit a regression model to examine the relationship between the number of days on the market is positively linearly related to the asking price.

[Insert the EXCEL output HERE]

3. Write an estimated linear regression equation.

4. What is a correlation coefficient?

5. Test whether the number of days on the market is linearly related to the asking price. Use =0.05.

6. Examine the assumptions of the regression model. List the assumptions and test whether the assumption is satisfied or not satisfied. Explain why.

7. Interpret the slope.