X. USE THE INFORMATION BELOW TO ANSWER PROBLEMS 31 THRU 34 Acme Properties, Inc. specializes in custom home sales in the Evergreen Estates. A random sample of nine currently listed custom homes provided information on size and price. The size data are in hundreds of square feet, rounded to the nearest hundred; the price data are in thousands of dollars, rounded to the nearest thousand. The smallest house in the sample was 22 hundred square feet and had a price of 195 thousand dollars. The largest house in the sample was 40 hundred square feet and had a price of 475 thousand dollars. Correlation of SIZE and PRICE = 0.930 The regression equation is PRICE = - 141 + 14.4 SIZE 31. Predict the price of a custom home in the Evergreen Estates that is 29 hundred square feet. a) $269,000 b ) $295,000 C) $276,600 d) $558,600 e) None of the above are correct. 32. Predict the price of a custom home in the Evergreen Estates that is 47 hundred square feet. a) $475,000 b) $535,800 C) $817,800 d) $195,000 e) None of the above are correct. 33. State the value of slope of the regression line. a) -141 b) 14.4 () 0.930 d) 65.71 e) None of the above are correct. 34. Interpret the correlation coefficient. a) There is a strong negative linear relationship between square footage and sale price. b) There is a strong positive linear relationship between square footage and sale price. c) There is a weak negative linear relationship between square footage and sale price. d) There is a weak positive linear relationship between square footage and sale price. e) None of the above are correct