pleaaseanswer: 14. A Private bank want to know whether their mortgage rate is in line with the data history of mortgagerate and the median home price. They build their analysis in 2004 based on the data below. To make theiranalysis simple, they use simple linear analysis.YearInterest Rate (%) Median Home Price (USD)198810.30181,800198910.30163,200199010.10157,20019919.30173.50019928.40185,90019937.30178,200173,20019948.4019957.90187,70019967.60181,50019977.60194,90019986.90210,900203,20019998.4020008.10205,20020017.00252,20020026.50282,80020035.80279,800If their interest rate currently is 6.10% and the median home price in the market is $250,700, what canyou conclude?

Introduction: As the manager wishes to use a simple linear analysis to determine whether the…

14. A Private bank want to know whether their mortgage rate is in line with the data history of mortgage rate and the median home price. They build their analysis in 2004 based on the data below. To make their analysis simple, they use simple linear analysis. Year Interest Rate (%) Median Home Price (USD) 1988 10.30 181,800 1989 10.30 163,200 157,200 1990 10.10 1991 9.30 173.500 1992 8.40 185,900 178,200 173,200 187,700 1993 7.30 1994 8.40 1995 7.90 1996 7.60 181,500 1997 7.60 194,900 210,900 203,200 205,200 252,200 282,800 279,800 1998 6.90 1999 8.40 2000 8.10 2001 7.00 2002 6.50 2003 5.80 If their interest rate currently is 6.10% and the median home price in the market is $250,700, what can you conclude?

14. A Private bank want to know whether their mortgage rate is in line with the data history of mortgage rate and the median home price. They build their analysis in 2004 based on the data below. To make their analysis simple, they use simple linear analysis. Year Interest Rate (%) Median Home Price (USD) 1988 10.30 181,800 1989 10.30 163,200 157,200 1990 10.10 1991 9.30 173.500 1992 8.40 185,900 178,200 173,200 187,700 1993 7.30 1994 8.40 1995 7.90 1996 7.60 181,500 1997 7.60 194,900 210,900 203,200 205,200 252,200 282,800 279,800 1998 6.90 1999 8.40 2000 8.10 2001 7.00 2002 6.50 2003 5.80 If their interest rate currently is 6.10% and the median home price in the market is $250,700, what can you conclude?

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter4: Writing Linear Equations

Section: Chapter Questions

Problem 14CR

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