Time in Years (independent) vs. Average House Prices in Canada (dependent)

1. Graph the data using a scatter diagram.

2. Use the method of least squares to derive a trend equation and trend values.

3. Use check column to verify computations (e.g., (Y-Yc)=0) and interpret the meaning of regression coefficients.

4. Superimpose trend equation on your scatter diagram.

5. Construct forecast intervals, calculate the standard error of estimate, coefficient of determination (r2 ), and correlation (r). Interpret the meaning of r 2 and r as it relates to your variables.

6. Use your regression equation to predict the value of the dependent variable in the 21st year.

Note: Please use the following data:

Date	Average House Prices Canada
2001-01-01	59.6007
2002-01-01	64.2283
2003-01-01	68.5557
2004-01-01	73.516
2005-01-01	79.0348
2006-01-01	87.5002
2007-01-01	96.2585
2008-01-01	97.5803
2009-01-01	95.0107
2010-01-01	100.0045
2011-01-01	100.5046
2012-01-01	102.9671
2013-01-01	105.0672
2014-01-01	108.2436
2015-01-01	112.6416
2016-01-01	123.3278
2017-01-01	137.1839
2018-01-01	138.7783
2019-01-01	137.0137
2020-01-01	144.6212
2021-01-01	157.5412