1A. The linear regression equation is y = 1B. Use the equation to predict the selling price of a house with 2300square feet = ### Linear Regression Analysis for Real Estate PricingGiven the following data for four houses sold in comparable neighborhoods and their corresponding number of square feet, we aim to find a linear regression equation that best fits the data. This equation will then be used to predict the selling price of a house with 2300 square feet.#### Data Table| Square Feet | Selling Price ||-------------|---------------|| 1690 | $99,300 || 2170 | $116,700 || 2600 | $147,900 || 3100 | $189,700 |### Instructions1. **Collect Data**: We've gathered the square footage and selling prices of four houses.2. **Formulate the Equation**: Utilize the given data points to generate a linear regression equation in the form $ y = mx + b $, where: - $y$ is the selling price, - $x$ is the square footage, - $m$ is the slope of the line, and - $b$ is the y-intercept.3. **Predict the Value**: Insert 2300 for $x$ into the equation to predict the selling price of a house with 2300 square feet.### Step-by-Step Process1. **Calculate the Slope (m)**: - Determine the rise over the run between each pair of points. Average these to find the approximate slope.2. **Calculate the Intercept (b)**: - Use one data point and the calculated slope to solve for $b$.3. **Generate the Linear Equation**: - Use the form $ y = mx + b $ with calculated $m$ and $b$.### Example CalculationIncoming values and the regression line's intercept and slope should be calculated mathematically or using tools like Excel or specialized statistical software.### ConclusionBy finding the linear equation, we can predict the selling price of comparable houses based on their square footage. For instance, after determining the equation parameters, you can predict the selling price of a 2300 square feet house efficiently.---For any additional questions or details on the step-by-step calculation of the slope and intercept, refer to our linear regression tutorial or contact the educational support team.

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Given the following data for four houses sold in comparable neighborhoods and their corresponding number of square feet, find a linear regression equation that best fits the data. Use the equation to predict the selling price of a house with 2300 square feet. Square Feet Selling Price 1690 $99,300 2170 $116,700 2600 $147,900 3100 $189,700

Given the following data for four houses sold in comparable neighborhoods and their corresponding number of square feet, find a linear regression equation that best fits the data. Use the equation to predict the selling price of a house with 2300 square feet. Square Feet Selling Price 1690 $99,300 2170 $116,700 2600 $147,900 3100 $189,700

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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