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Using the data in Table 1 calculate the estimate for bo in the equation Price = bo + b Income; + ej. Make a note

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Using the data in Table 1 calculate the estimate for bo in the equation Price = bo + b Income; + ej. Make a note of the estimate as you will need it in subsequent questions. Table 1: House Prices and Average Income City Price Income Birmingham 45 15 Bristol 67 24 Liverpool 28 9 Manchester 32 12 Chester 59 30 London 70 42 Edinburgh 69 31 21.4907 19.2098 17.6742 20.2179 18.5002

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