Square Footage, x

226632031168197931292816415221402610177218583626

Selling Price ($000s), y

389.7379 196.2338.7624.1377.6633.8365.9425.1308.2282.3660.1

One of the biggest factors in determining the value of a home is the square footage. The accompanying data represent the square footage and selling price(in thousands ofdollars) for a random sample of homes for sale in a certain region. Complete parts(a) through(h) below.

(a)Which variable is the explanatoryvariable?

Selling Price

Square Footage

(b)Draw a scatter diagram of the data.

(c)Determine the linear correlation coefficient between square footage and asking price.

r =

(Round to three decimal places asneeded.)

(d)Is there a linear relation between square footage and askingprice?

(e)Find theleast-squares regression line treating square footage as the explanatory variable.

y = ___x + (___)

(Round to two decimal places asneeded.)

(f)Interpret the slope. Select the correct choice belowand, ifnecessary, fill in the answer box toachoice.

A.For every additional squarefoot, the selling price increases by _____ thousand dollars, on average.

(Round to two decimal places asneeded.)

B.For every additional thousand dollars in sellingprice, the square footage increases by _____ square feet, on average.

(Round to two decimal places asneeded.)

C.For a house that is 0 squarefeet, the predicted selling price is ____ thousand dollars.

(Round to two decimal places asneeded.)

D.For a house that is sold for$0, the predicted square footage is ____.

(Round to two decimal places asneeded.)

E.It is not appropriate to interpret the slope.

(g)Is it reasonable to interpret they-intercept? Why? Select the correct choice belowand, ifnecessary, fill in the answer box to a choice.

A.Noa house of _____ square feet is not possible and outside the scope of the model.

B.Yesa house of ______ square feet is possible and within the scope of the model.

C.Noa house of ____ square feet is outside the scope of the model

D.Noa house of ____ square feet is not possible.

E.More information about the houses is necessary before deciding.

(h)One home that is 1405 square feet is sold for $260 thousand. Is thishome's price above or below average for a home of thissize?Thehome's price isbelow/abovethe average price. The average price of a home that is 1405 square feet is $__________thousand.

(Round to the nearest whole number asneeded.)