High School

Use linear regression to find an equation that would best predict a fair home price based on the comps given below. Round each variable to 4 decimal places.

| Square Feet | House Price (in thousands) |
|-------------|-----------------------------|
| 1400 | 108 |
| 1700 | 133 |
| 1500 | 120 |

Answer :

Using a linear regression calculator, the regression equation which models the house price for the data given is ŷ = 0.0807X - 3.4286

Given the data :

Square feet ____House price

1400 __________ 108

1700 __________ 133

1500 __________ 120

Using a linear regression calculator , the equation which models the data is :

  • ŷ = 0.0807X - 3.4286

Where :

slope of the equation is = 0.0807

Intercept = 3.4286

Therefore, the regression equation gives the prediction of the house price based on square feet.

Learn more on linear regression: https://brainly.com/question/25987747

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