Question

Show how to get this linear regression equation

The data in the table were collected from n = 10 home sales. Property appraisers used the data to estimate the population regression model of

E(Sales Price) = b₀ + b₁(Home Size),

where

Sales Price (in thousands of dollars)

Home Size (in hundreds of square feet)

Sales Price	Home Size
160	23
132.7	11
157.7	20
145.5	17
147	15
155.3	21
164.5	24
142.6	13
154.5	19
157.5	25

What is the sample regression model? Make sure to use the correct notation when stating the model.

This answer is Sale price = 116.00813 + 1.90010(Home size)

How do you get this equation?

Thank you

Answer 1

S.No X-X 5 1 7 2 2 1 5 10 Total 9 Mean 18.8000 151.7300 sample size: here 151.7300 18.8000 from above 201.6000 383.0600 slope- 1.9001 intercept- 116.0081

from above Sale price = 116.00813 + 1.90010(Home size)

( please revert for any clarification required)