The accompanying table shows a portion of a data set that refers to the property taxes owed by a homeowner (in $) and the size of the home (in square feet) in an affluent suburb 30 miles outside New York City.

a.Estimate the sample regression equation that enables us to predict property taxes on the basis of the size of the home.(Round your answers to 2 decimal places.)

Taxes = + Size

b.Interpret the slope coefficient.

multiple choice

• As Size increases by 1 square foot, the property taxes are predicted to increase by $6.86.
• As Property Taxes increase by 1 dollar, the size of the house increases by 6.86 ft.

c.Predict the property taxes for a 1,400-square-foot home.(Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)

Taxes

Taxes,Size 21923,2413 17398,2344 18291,1916 15608,1085 43982,5617 33656,2528 15155,2281 16705,1964 18273,2138 16083,1336 15117,1236 36002,3121 31081,2735 42016,3341 14432,1464 38909,4067 25317,4008 22977,2503 16186,3504 29277,2871