The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper.PropertySale Price (millions of dollars)Size(thousands

of sq. ft.)Land-to-

Building

Ratio110.721671.922.67503.5330.424213.541.82244.6520.139181.768.028662.4710.016973.286.710464.795.911087.7104.440617.2

(a) Calculate the value of the correlation coefficient between sale price and size. (Give the answer to three decimal places.)

r=

The following data on sale price, size, and land-tobuilding ratio for 10 large industrial properties appeared in a paper. Sale Price Size Land-to- (milllons (thousands B ' ing Property of dollars) of sq. ft.) Ratio 1 10.7 2167 1.9 2 2.6 750 3.5 3 30.4 2421 3.5 4 1.8 224 4.6 5 20.1 3918 1.7 6 8.0 2866 2.4 7 10.0 1697 3.2 8 6.7 1046 4.7 9 5.9 1108 7.7 10 4.4 406 17.2 (a) Calculate the value of the correlation coefficient between sale price and size. (Give the answer to three decimal places.) ,- = (b) Calculate the value of the correlation coefficient between sale price and landtobuilding ratio. (Give the answer to three decimal places.) ,- = (c) If you wanted to predict sale price and you could use either size or landto-building ratio as the basis for making predictions, which would you use? Size Landto-building ratio (d) Based on your choice in Part (c), find the equation of the leastsquares regression line you would use for predicting y = sale price. (Give answers to three decimal places.) )7 = + X