Question

A company specializes in custom home resales in an exclusive subdivision. A random sample of nine custom homes currently listed for sale provided the following information on size and price.​ Here, x denotes​ size, in hundreds of square​ feet, rounded to the nearest​ hundred, and y denotes​ price, in thousands of​ dollars, rounded to the nearest thousand. Use the information to complete parts​ (a) through​ (g). x 26 27 33 29 29 34 30 40 22
y 540 555 575 577 606 661 738 804 496

a. Find the regression equation for the data points.
b. Graph the regression equation and the data points.
c. Describe the apparent relationship between the two variables under consideration.
d. Interpret the slope of the regression line.
e. Identify the predictor and response variables.
f. Identify outliners and potential influential observations.
g. Predict the values of the response variable for the specified values of the predictor variable, and interpret your results.

Answer 1

Answer:

Step-by-step explanation:

Given data of x and y are tabulated and slope and intercept found out

X Y

 

26 540

27 555

33 575

29 577

29 606

34 661

30 738

40 804

22 496

 

SLOPE 15.89351852

Intercept 140.0833333

a) Regression equation is

y =15.89x+140.08

b) Enclosed

c) POsitive linear relation

d) When x increses by 1 unit y increases by 15.89 units

e) predictor is x and response is y

f) No outliers.Potential are

26 540

27 555

33 575

29 577

g) whenever we have x value we substitute in regression equation and find y

g)