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List price and the selling price in the table above

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Reference no: EM131997093

Find the regression?equation, letting the the selling price be the independent? (x) variable. Find the best predicted list price of a home having a selling price of ?$450,000. Use a significance level of 0.05.

Selling price (x) 400 301 380 433 459 478 320 355 416 330

List price (y) 410 319 385 440 490 480 321 368 435 343

Which are true

1. The regression line equation is y = 4.9795 + 1.0179x

2. There is a correlation between List Price and the Selling Price in the table shown above.

3. The best predicted list price of a home having a selling price of ?$450,000 is $463,022.

4. The P-value = 0.0000

5. The test t statistic = 19.21

Reference no: EM131997093

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