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Extending the Ideas 53 The median price of existing single-family homes has increased consistently during the past few years. However, the data in Table 1.4 show that there have been differences in various parts of the country. TABLE 1.4 Median Price of Single-Family Homes Year South (dollars) West (dollars) 1999 145,900 173,700 2000 148,000 196,400 2001 155,400 213,600 2002 163,400 238,500 2003 168,100 260,900 Source: U.S. Bureau of the Census, Statistical Abstract of the United States, 2004-2005. (a) Find the linear regression equation for home cost in the South. (b) What does the slope of the regression line represent? (c) Find the linear regression equation for home cost in the West. (d) Where is the median price increasing more rapidly, in the South or the West?

Extending the Ideas 53 The median price of existing single-family homes has increased consistently during the past few years. However, the data in Table 1.4 show that there have been differences in various parts of the country. TABLE 1.4 Median Price of Single-Family Homes Year South (dollars) West (dollars) 1999 145,900 173,700 2000 148,000 196,400 2001 155,400 213,600 2002 163,400 238,500 2003 168,100 260,900 Source: U.S. Bureau of the Census, Statistical Abstract of the United States, 2004-2005. (a) Find the linear regression equation for home cost in the South. (b) What does the slope of the regression line represent? (c) Find the linear regression equation for home cost in the West. (d) Where is the median price increasing more rapidly, in the South or the West?

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Extending the Ideas 53 The median price of existing single-family homes has increased consistently during the past few years. However, the data in Table 1.4 show that there have been differences in various parts of the country. TABLE 1.4 Median Price of Single-Family Homes Year South (dollars) West (dollars) 1999 145,900 173,700 2000 148,000 196,400 2001 155,400 213,600 2002 163,400 238,500 2003 168,100 260,900 Source: U.S. Bureau of the Census, Statistical Abstract of the United States, 2004-2005. (a) Find the linear regression equation for home cost in the South. (b) What does the slope of the regression line represent? (c) Find the linear regression equation for home cost in the West. (d) Where is the median price increasing more rapidly, in the South or the West?
Transcribed Image Text:Extending the Ideas 53 The median price of existing single-family homes has increased consistently during the past few years. However, the data in Table 1.4 show that there have been differences in various parts of the country. TABLE 1.4 Median Price of Single-Family Homes Year South (dollars) West (dollars) 1999 145,900 173,700 2000 148,000 196,400 2001 155,400 213,600 2002 163,400 238,500 2003 168,100 260,900 Source: U.S. Bureau of the Census, Statistical Abstract of the United States, 2004-2005. (a) Find the linear regression equation for home cost in the South. (b) What does the slope of the regression line represent? (c) Find the linear regression equation for home cost in the West. (d) Where is the median price increasing more rapidly, in the South or the West?
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