Question

Use linear regression to find an equation that would best predict a fair home price based on the

comps given below. Round each variable to 4 decimal places.

Answer 1

y = 0.0807x - 3.4286

Explanation:

Given the data above :

X :

1400

1700

1500

Y:

108

133

120

Using a linear regression calculator, the regression equation obtained is :

y = 0.0807x - 3.4286

Slope = 0.0807

Intercept = - 3.4286

x = predictor variable

y = predicted variable