Hello,

I have a question on this assignment about real estate data in my applied statistics class. I am getting a 6 digit value for the land for my regression equation for the Pacific region that I chose to use, and I just want to make sure that it is correct because it seems so high. The prices of the homes are listed between $290,000 to over $600,000 so I'm unsure if this is the correct equation. I listed my regression equation in the right corner of my scatter plot of the data that I completed for the assignment. The regression equation I received was y=135.46x + 164617. I need to know just the price of the land and I believe it is $164,617. Is this correct? Below is the data. Thank you.

X Real Estate Data (2) - Excel Share File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do EX AutoSum Cut AY O Arial - 11 - A A = al Wrap Text General Fill Copy Conditional Format as Cell Insert Delete Format Sort & Find & Paste = Merge & Center $ ~ % " Clear ~ Filter ~ Select Format Painter BIULA Formatting " Table " Styles ~ Styles Cells Editing Clipboard Font Alignment Number L4 X Y O P Q R S T U V W X Y A B F G H K M N isting square square Region State County price foot feet sacramento 291,500 $176 1.655 sample national 2 Pacific ca 3 Pacific or yamhill 458,800 $227 2,020 mean price $385,310 342,365 318,00 4 Pacific ca ventura 654,300 $182 3,597 median price $356,000 5 Pacific wa snohomish 356,400 $257 1,385 std dev price 81336 125,914 6 Pacific ca fresno 389,500 $279 1,395 7 Pacific or umatilla 345,500 $313 1,104 8 Pacific ca san mateo 314,300 $210 1,500 sample national 9 Pacific ca 329,500 $259 1,274 mean sqft 1,629 2,111 riverside .497 1,881 10 Pacific ca solano 343,700 $277 1,240 median sqft 11 Pacific wa clark 460,700 $240 1,922 std dev sqft 538 921 12 Pacific ca kings 408, 100 $246 1,656 13 Pacific ca merced 339,600 $197 1,726 401,700 $226 1,780 Real Estate Data 14 Pacific or clackamas y = 135.46x + 164617 15 Pacific ca humbold 349,500 $234 1,494 700,000 16 Pacific wa whatcom 430,400 $256 1,680 17 Pacific ak fairbanks north sta 330,600 $231 1,430 600,000 18 Pacific ca santa barbara 355,600 $269 1,323 500,000 19 Pacific ca lake 335,700 $235 1.430 20 Pacific wa chelan 611,400 $197 3.099 400,000 21 Pacific wa skagit 330, 100 $277 1,193 300,000 22 Pacific ca madera 439,800 $275 1,597 23 Pacific or lincoln 371,200 $278 1,334 200,000 24 Pacific ca orange 354,800 $322 1,101 100,000 25 Pacific or jackson 301,200 $191 1.581 26 Pacific ca los angeles 393,100 $219 1,793 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 27 Pacific ca stanislaus 389,300 $272 1,431 28 Pacific or marion 419,300 $217 1,936 29 Pacific wa mason 332,900 $291 1,145 30 Pacific ca placer 314,600 $266 1,182 31 Pacific ca butte 406,200 $217 1,875 Regression equation Slope 13546 32 135.46 33 intercept 164617 34 r (correlation) 35 correlation 0.89619671 36 37 R-squared Coefficient of determination 0.80316854 39 project 1 data + 74% Ready use all Illlays iv aon a queSuvil Iat IS UIIIIVUIL LV LyPE W O P