Question: e Exercise 7 (28 POINTS) What did housing prices look like in the good old days? The median sale prices for new single-family houses are

 e Exercise 7 (28 POINTS) What did housing prices look like

e Exercise 7 (28 POINTS) What did housing prices look like in the "good old days"? The median sale prices for new single-family houses are given in the accompanying table for the years 1972 through 1979. Year Median Sales Price ($1000) 1972 (1) $27.6 1973 (2) $32.5 1974 (3) $35.9 1975 (4) $39.3 1976 (5) $44.2 1977 (6) $48.8 1978 (7) $55.7 1979 (8) $62.9 Letting denote the median sales price and x the year (using integers 1, 2. cuep B) 1. (16 POINTS) - Fit the model Y = 3y + Bix + . 2. (8 POINTS) - Calculate SSE and s? for the model. 3. (4 POINTS) - What can you conclude from the results

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!