The Basic Practice of Statistics 7th Edition

Published by W. H. Freeman
ISBN 10: 146414253X
ISBN 13: 978-1-46414-253-6

Chapter 26 - Inference for Regression - Check Your Skills - Page 636: 26.16

Answer

(b).

Work Step by Step

The equation of a least-squares regression line: $\hat{y}=a+bx$, where $x$ is the appraised value and $y$ is the price. We can find the $y$-intercept $a$ in the row "Constant" and the column "Coeff", thus $a=111.9$. We can find the slope $b$ in the row "appraised" and the column "Coeff," thus $b=1.2103$. Thus the equation becomes: $price=111.9+1.2103x$, thus the answer is (b).
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