Question
Suppose we want to use data on square footage to predict home sale prices. An equation that fits the data below reasonably well is Predicted
Suppose we want to use data on square footage to predict home sale prices. An equation that fits the data below reasonably well is
Predicted Selling Price=33.14+0.18(Square Footage).
In order to find the sum of squared errors for this data, we have constructed the following table.
Observed Selling Price (Thousands of Dollars) | Observed Square Footage | Predicted Selling Price (Thousands of Dollars) | Error | Squared Error |
---|---|---|---|---|
252.7 | 1209 | 250.76 | 1.94 | 3.7636 |
286.5 | 1504 | 303.86 | 17.36 | 301.3696 |
271.5 | 1417 | 288.20 | 16.70 | 278.8900 |
224.6 | 1109 | 232.76 | 8.16 | 66.5856 |
273.3 | 1212 | 251.30 | 22.00 | 484.0000 |
316.3 | 1506 | 304.22 | 12.08 | 145.9264 |
276.0 | 1437 | 291.80 | 15.80 | 249.6400 |
394.2 | 1984 |
Copy Data
Find the missing values in the table for an observed selling price of 394.2and square footage of 1984. Round your answers to two decimal places, if necessary.
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