Question

A real estate agent made a scatter plot with the size of homes, in square feet, on the x-axis and the homeowner's property taxes on the y-axis. The variable have a strong linear correlation and the equation for the least squares regression line is yˆ=0.392x+638.118 . Based on the equation, what should the agent expect the property tax to be for a 3,100-square foot home in the area? Question 10 options: $2,464.12 $1,215.20 $1,853.32 $940.80

Answer 1

Th answer is $1,853.32

Answer 2

Option C. $1853.32

Explanation:

A real state agent made a scatter plot with the size of homes, on the x-axis and property taxes on the y-axis.

Linear equation which represents this model is y = 0.392x + 638.118

We have to calculate the property tax for a 3100 square foot home.

We will put x = 3100 foot²in the given equation to calculate the property tax

y = 0.392×(3100) + 638.118

y = 1215.20 + 638.118

y = $1853.32

Therefore, the property tax of a 3100 square foot home will be Option C. $1853.32