{Exercise 16.7} This exercise was created to allow you to see how regression analysis is used to solve realistic problems. As a result, it feature a large number of observations. We anticipate that problem will be solved using a computer and statistical software. Dataset: [Xr16-07] Florida condominiums are popular winter retreats for many North Americans. In recent years, the prices have steadily increased. A real estate agent wanted to know why prices of similar-sized apartments in the same building vary. A possible answer lies in the floor. It may be that the higher the floor, the greater the sale price of the apartment. He recorded the price (in $1,000s) of 1,200 sq. ft. condominiums in several buildings in the same location that have sold recently and the floor number of the condominium. a. Determine the regression line. y = bo + b1 . x b1 = (to 3 decimals) b2 = (to 1 decimal) b. What do the coefficients tell you about the relationship between the two variables? For each additional floor price: v Select on average by $ thousand. Increase decrease