Question

A house is listed for sale at $205,000, but the listing does not include square footage of the house. Based on the comps, the line of best fit is y=0.07x+50.5. If the price is fair, what size (in square feet) should the house be?

Answer 1

The answer would be 2200 ft2

Answer 2

We are asked to solve for the square feet size, which is the x variable in the problem. The "y" variable is equivalent to $205,000.

We have the expression y = 0.07x + 50.5. Solving for x, we have:
Y= 0.07x + 50.5
$205,000 = 0.07x +50.5
($205,000 - 50.5) / 0.07 =x
x = 2,927,850