Please provide the correct answer, I rate good answers, thank you! We want to pr

Question

Please provide the correct answer, I rate good answers, thank you! We want to predict the selling price of a house in Newburg Park, Florida, based on the distance the house lies from the beach. Suppose that we're given the data in the table below. These data detail the distance from the beach (x, in miles) and the selling price (, in'thousands of dollars) for each of a sample of fifteen homes sold in Newburg Park in the past year. The data are plotted in the scatter plot in Figure 1. Distance from the Selling price, y beach, x (in thousands of (in miles) 6.0 14.2 12.4 5.4 2.8 7.9 18.4 11.0 13.8 8.3 6.9 10.4 11.2 5.6 11.8 dollars) 269.5 256.7 207.3 261.0 321.1 290.2 221.9 274.5 197.3 212.9 241.6 236.0 220.7 302.1 200.5 1s Figure 1

Explanation / Answer

Value of the y-intercept = 308.43
Value of the sample correlation coefficient = -0.6695

(Original value of the y-intercept is 308.4288 and that of the sample correlation coefficient is -0.66951.)

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