The sales manager at City Real Estate Company is interested in describing the relationship between condo sales prices and the number of weeks the condo is on the market before it sells. He has collected a random sample of 17 low-end condos that have sold within the past three months. These data are as follows:

Weeks on the Market Selling Price 23 $76,500 48 $102,000 9 $53,000 26 $84,200 20 $73,000 40 $125,000 51 $109,000 18 $60,000 25 $87,000 Weeks on the Market Selling Price 62 $94,000 33 $76,000 11 $90,000 15 $61,000 26 $86,000 27 $70,000 56 $133,000 12 $93,000

a. Develop a simple linear regression model to explain the variation in selling price based on the number of weeks the condo is on the market.

b. Test to determine whether the regression slope coefficient is significantly different from 0 using a significance level equal to 0.05.

c. Construct and interpret a 95% confidence interval estimate for the regression slope coefficient.