A seller has a house that is 1700 ft^2. The neighborhood comps show the line of best fit to be y=0.074x + 50.48. What is a fair
price for this house?
1 answer:
Let the price for the house be x and the square feet of the house be y,
when the house is 1700 sq ft, y = 1700.
y = 0.074x + 50.48
1700 = 0.074x + 50.48
0.074x = 1700 - 50.48
0.074x = 1649.52
x = 22 290.81 (to the nearest cent)
A fair price for this house would be $22 290.81.
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