Course - Econ Statistics Book: Bus Stats-Statistical Techniques in Business and Economics (17th Edition)

The North Valley Real Estate data reports information on homes on the market.

1. Let selling price be the dependent variable and size of the home the independent variable. Determine the regression equation. Estimate the selling price for a home with an area of 2,200 square feet. Determine the 95% confidence interval for all 2,200 square foot homes and the 95% prediction interval for the selling price of a home with 2,200 square feet.
2. Let days-on-the-market be the dependent variable and price be the independent variable. Determine the regression equation. Estimate the days-on-the-market of a home that is priced at $300,000. Determine the 95% confidence interval of days-on-the-market for homes with a mean price of $300,000, and the 95% prediction interval of days-on-the-market for a home priced at $300,000