How are the prices of commercial properties related to the number of storeys high they are? A scatterplot for the commercial properties in one city that are built with masonry construction looks like this:

QUESTION:

The Linearity Assumption is clearly not satisfied by these data, and there’s one building of more than 20 storeys with a low price that’s likely to be influential. What’s an appropriate way to summarize the relationship between Price and Storeys?

Transcribed Image Text:

200 150 00 100 Price ($ million) 000 50 - 00 0 00 + 10 Storeys 15 20 20