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Question 4. [Marks: 12.5] a) A sample of twelve homes sold last week in Bashundhara residential area, is selected. The 19] sizes of the homes
Question 4. [Marks: 12.5] a) A sample of twelve homes sold last week in Bashundhara residential area, is selected. The 19] sizes of the homes reported in thousands of square feet, and the selling prices are reported in lac taka. The sample data are: Home sizes 1.4 1.3 1.2 1.1 1.4 1.0 1.3 0.8 1.2 0.9 1.1 1.1 Selling Prices | 100 110 105 120 80 105 110 85 105 75 70 95 Identify the independent and dependent variables regarding the given sample data and fit the regression line. Determine the standard error of estimate and interpret its result. b) Briefly describe the role of regression analysis in the field of business or economics. [3.5]
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