Problem

For the data given (Sales by Real Estate Brokers), choose two points on or near the line y...

For the data given (Sales by Real Estate Brokers), choose two points on or near the line you sketched and use them to find a function model for the data. Based on this model, how many sales can be expected for homes costing $275,000? $300,000?

The data known to be linear.

Real estate brokers carefully track sales of new homes looking for trends in location, price, size, and other factors. The table relates the average selling price within a price range (homes in the $120,000 to $140,000 range are represented by the $130,000 figure), to the number of new homes sold by Homestead Realty in 2004. (a) Draw a scatterplot using scales that appropriately fit the data, then sketch an estimated line of best fit, (b) decide if the association is positive or negative, then (c) decide whether the correlation is weak or strong.

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