tial property and the market value (selling price) of the of 8 recent property transactions were examined. The data is recorded in the tables below. Find the intercept (rounded off to four decimals). 1 2 3 4 LO 5 6 7 8 A. 0.0892 B. -4.0293 O C. 6.7128 D. 1.285 City Council valuation (R1000) 12 45 32 50 28 56 18 40 Market value (R1000) 65 220 142 310 196 364 116 260 SSxy = 10319.875 SSY = 70990.875 Exy=69084 b = 6.1912 SSX 1666.875 x = 34.4286 y=209.125

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question
A property analyst is examining the relationship between the City Council's valuation on
residential property and the market value (selling price) of the properties. A random sample
of 8 recent property transactions were examined. The data is recorded in the tables below.
Find the intercept (rounded off to four decimals).
1
2
3
4
5
6
7
8
A. 0.0892
B. -4.0293
OC. 6.7128
D. 1.285
City Council
valuation
(R1000)
12
45
32
50
28
56
18
40
Market value
(R1000)
65
220
142
310
196
364
116
260
SSxy=10319.875
SSY = 70990.875
Exy=69084
b = 6.1912
SSX 1666.875
x = 34.4286
y=209.125
Transcribed Image Text:A property analyst is examining the relationship between the City Council's valuation on residential property and the market value (selling price) of the properties. A random sample of 8 recent property transactions were examined. The data is recorded in the tables below. Find the intercept (rounded off to four decimals). 1 2 3 4 5 6 7 8 A. 0.0892 B. -4.0293 OC. 6.7128 D. 1.285 City Council valuation (R1000) 12 45 32 50 28 56 18 40 Market value (R1000) 65 220 142 310 196 364 116 260 SSxy=10319.875 SSY = 70990.875 Exy=69084 b = 6.1912 SSX 1666.875 x = 34.4286 y=209.125
Expert Solution
Step 1

Given that 

b = 6.1912 , SSxy = 10319.875 , SSx = 1666.875

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