Question

Given the following data for four houses sold in comparable neighborhoods and their corresponding number of square​ feet, draw a scatter plot and find a linear regression equation representing a relationship between the number of square feet and the selling price of the house.

Square Feet 1512 2556 3008 3017

Selling Price $92,875 $216,000 $252,000 $270,000

Answer 1

[AI-generated answer — Bot GPT 3.5]

To draw a scatter plot and find a linear regression equation, we can use a graphing calculator or a spreadsheet program like Excel. Here are the steps using Excel:

1. Enter the data for square feet and selling price in two columns:

| Square Feet | Selling Price |
|-------------|---------------|
| 1512 | $92,875 |
| 2556 | $216,000 |
| 3008 | $252,000 |
| 3017 | $270,000 |

2. Select the data for both columns.

3. Click on the "Insert" tab at the top of the Excel window.

4. Click on the "Scatter" chart type. Choose the simple scatter plot style without lines connecting the points.

5. A scatter plot with the data points will be displayed.

6. Right-click on any data point and select "Add Trendline" from the menu.

7. In the "Trendline Options" dialog box, choose the "Linear" trendline type. Make sure to check the box for displaying the equation on the chart.

8. Click "Close" to exit the dialog box.

The scatter plot will show the data points, and the linear regression equation will be displayed on the chart. The equation represents the relationship between the number of square feet and the selling price of the house.