=+26. Property assessments. The following software results provide information about the size (in square feet)

of 12 homes in Montreal, Canada, and the city’s assessed value of those homes (in thousands of dollars), where the response variable is Assessment.

Coefficients Standard Error t-Stat P-value Intercept 103.4372 50.12672 2.063514 0.065997 Size 0.069954 0.021248 3.292292 0.008119 s = 36.65 R-Sq = 52.1%

Variable Mean Stdev Size 2306 264.75 Price 520.2 50.452723 0

50 100 150 200 250 300 350 400 0 2000 4000 Assessed Value Size Price Linear (Price)

–60

–40

–20 0

20 40 60 80 200 250 300 350 Residuals Predicted Assessment 0

0.5 1

1.5 2

2.5 3

3.5

–50 –30 –10 10 30 50 70 More Frequency Residuals Histogram