NY City Housing Costs: Downtown The following table shows the average pric...

NY City Housing Costs: Downtown The following table shows the average price of a two-bedroom apartment in downtown New York City from 1994 to 2004. (t = 0 represents 1994.)

a. Use technology to obtain the linear regression line, with regression coefficients rounded to two decimal places, and plot the regression line and the given points.

b. Does the graph suggest that a non-linear relationship between t and p would be more appropriate than a linear one? Why?

c. Use technology to obtain the residuals. What can you say about the residuals in support of the claim in part (b)?