Question

The data show the list and selling prices for several expensive homes. Find the regression​ equation, letting the the list price be the independent​ (x) variable. Find the best predicted selling price of a home having a list price of ​$4 million. Is the result close to the actual selling price of $4.2​million?

List price​ (millions of​ $)

2.8

2.9

2.3

3.4

2.1

1.6

	Selling price​ (millions of​ $)	2.6

3

2.2

3.7

1.9

1.8

What is the regression​ equation?

ModifyingAbove y with caret

equalsnothingplusnothing x

​ (Round to four decimal places as​ needed.)

What is the best predicted selling price of a home having a list price of

​$4

​million?

ModifyingAbove y with caret

equals ​$nothing

million ​(Round to two decimal place as​ needed.)

Is the result close to the actual selling price of

​$4.2

​million?

A.

The result is not close to the actual selling price of

​$4.2

million.

B.

The result is exactly the same as the actual selling price of

​$4.2

million.

C.

The result is close to the actual selling price of

​$4.2

million.

Answer 1

predicted val=-0.1882+4*1.0814=

4.14 million

option C: The result is close to the actual selling price of ​$4.2 million.