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A real estate agent pould like to redict the selling prices of single family homes from their living areas. He takes sample of 11 recently
A real estate agent pould like to redict the selling prices of single family homes from their living areas. He takes sample of 11 recently sold houses and records the selling prices (in thousands of dollars) as well as the living areas (in hundreds of square feet). They are: Area Price 20.0 89.5 14.8 79.9 20.5 83.1 12.5 56.9 18.0 66.6 14.3 82.5 27.5 126.3 16.5 79.3 24.3 119.9 20.2 87.6 12.5 78.5 a) Construct a scatter plot and interpret it. b Find a linear equation which models the relationship between price and area. C What is the y-intercept? Does it have a practical meaning for this problem?