The accompanying data table contains the listed prices (in thousands of dollars) and the number of square feet for 20 homes listed by a realtor in a certain city. Square Feet Price ($000) 833 203 3,235 652 1,497 281 898 204 1,914 373 2,402 378 948 202 929 197 1,623 336 2,139 335 3,241 466 1,758 312 2,118 356 3,046 531 801 183 1,958 402 843 202 2,579 521 3,177 482 2,768 445 (b) Estimate the linear equation using least squares. Interpret the fitted intercept and slope. Be sure to include their units. Note if either estimate represents a large extrapolation and is consequently not reliable. Complete the equation for the fitted line below. Estimated Price ($000) =.....+.... Size (Square Feet)
The accompanying data table contains the listed prices (in thousands of dollars) and the number of square feet for 20 homes listed by a realtor in a certain city. Square Feet Price ($000) 833 203 3,235 652 1,497 281 898 204 1,914 373 2,402 378 948 202 929 197 1,623 336 2,139 335 3,241 466 1,758 312 2,118 356 3,046 531 801 183 1,958 402 843 202 2,579 521 3,177 482 2,768 445 (b) Estimate the linear equation using least squares. Interpret the fitted intercept and slope. Be sure to include their units. Note if either estimate represents a large extrapolation and is consequently not reliable. Complete the equation for the fitted line below. Estimated Price ($000) =.....+.... Size (Square Feet)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 14PPS
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Question
The accompanying data table contains the listed prices (in thousands of dollars) and the number of square feet for 20 homes listed by a realtor in a certain
city.
Square Feet Price ($000)
833 203
3,235 652
1,497 281
898 204
1,914 373
2,402 378
948 202
929 197
1,623 336
2,139 335
3,241 466
1,758 312
2,118 356
3,046 531
801 183
1,958 402
843 202
2,579 521
3,177 482
2,768 445
(b) Estimate the linear equation using least squares. Interpret the fitted intercept and slope. Be sure to include their units. Note if either estimate represents
a large extrapolation and is consequently not reliable.
Complete the equation for the fitted line below.
Estimated Price ($000) =.....+.... Size (Square Feet)
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