A real estate expert wanted to find the relationship between the sale price of houses and various characteristics of the houses. She collected data on four variables, for 13 houses that were sold recently: Price: Sale Price of a house in thousands of pounds Lot size: Size of the lot in acres Living area: Living area in square feet Age: Age of a house in years. Price 255 178 263 127 305 164 245 146 287 189 234 211 123 Lot size 1.4 0.9 1.8 0.7 2.6 1.2 2.1 1.1 2.8 1.6 3.2 1.7 0.5 Living area 2500 2250 2900 1800 3200 2400 2700 2050 2850 2400 2600 2300 1700 Age 8 12 5 24 10 18 9 28 13 4 9 8 11

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.1: Measures Of Center
Problem 3BGP
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A real estate expert wanted to find the relationship between the sale price of
houses and various characteristics of the houses. She collected data on four
variables, for 13 houses that were sold recently:
Price: Sale Price of a house in thousands of pounds
Lot size: Size of the lot in acres
Living area: Living area in square feet
Age: Age of a house in years.
Price
255
178
263
127
305
164
245
146
287
189
234
211
123
Lot size
1.4
0.9
1.8
0.7
2.6
1.2
2.1
1.1
2.8
1.6
3.2
1.7
0.5
Living area
2500
2250
2900
1800
3200
2400
2700
2050
2850
2400
2600
2300
1700
Age
8
12
5
24
10
18
9
28
13
4
9
8
11
Transcribed Image Text:A real estate expert wanted to find the relationship between the sale price of houses and various characteristics of the houses. She collected data on four variables, for 13 houses that were sold recently: Price: Sale Price of a house in thousands of pounds Lot size: Size of the lot in acres Living area: Living area in square feet Age: Age of a house in years. Price 255 178 263 127 305 164 245 146 287 189 234 211 123 Lot size 1.4 0.9 1.8 0.7 2.6 1.2 2.1 1.1 2.8 1.6 3.2 1.7 0.5 Living area 2500 2250 2900 1800 3200 2400 2700 2050 2850 2400 2600 2300 1700 Age 8 12 5 24 10 18 9 28 13 4 9 8 11
f) What is the predicted sale price of a house that has a lot size of 2.5 acres,
a living area of 3000 square feet and is 14 years old?
g) Comment on the data used for this investigation.
Transcribed Image Text:f) What is the predicted sale price of a house that has a lot size of 2.5 acres, a living area of 3000 square feet and is 14 years old? g) Comment on the data used for this investigation.
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