One of the biggest factors in determining the value of a home is the square footage. The accompanying data represent the square footage and asking prices (in thousand of dollars) for a random sample of home for sales.
Square Footage, x Asking Prince ($000s), y
a. Which variable is the explanatory variable?
b. Draw a scatter diagram of the data.
c. Determine the liner correlation coefficient between square footage and asking price.
d. find the least-square regression treating square footage as the explanatory variable.
e. Interpret the slope.