Please provide hand-written explanation • • 4.48 Rhonda Clark, a Slippery Rock, Pennsylvania, real estate developer,...
• • 4.48 Rhonda Clark, a Slippery Rock, Pennsylvania, real estate developer, has devised a regression model to help determine residential housing prices in northwestern Pennsylvania. The model was developed using recent sales in a particular neighbor- hood. The price (Y) of the house is based on the size (square foot- age = X) of the house. The model is: Y = 13,473 + 37.65X The coefficient of correlation for the model is 0.63. a) Use the model to predict the selling price of a house that is! 1,860 square feet. b) An 1,860-square-foot house recently sold for $95.000. Explain why this is not what the model predicted.