The equation of the least-squares regression line for predicting selling price from appraised value is

(a)price^=79.49+0.1126(appraised value)

(b)price^=0.1126+1.0466(appraised value)

(c)price^=127.27+1.0466(appraised value)

(d)pnice^=1.0466+127.27(appraised value)

(e)price^=1.0466+69.7299(appraised value).

Short Answer

Expert verified

price^=127.27+1.0466(appraised value)

Step by step solution

01

Given Information

Need to find the least-squares regression line for predicting selling price from the appraised value.

02

Explanation

General least-squares regression equation:

price=a+b(appraisedvalue)

The y-intercept a is given in the column of "Coef" and in the row of "Constant":

a=127.27

The slope b is given in the column of "Coef" and in the row of "Appraisal":

b=1.0466

The least-squares regression equation then becomes:

price=127.27+1.0466(appraisedvalue)

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