The following table represents a sample
of sale prices
, in thousands of dollars,
and
number of new homes available at
that price in 2017.
Sale Price, p
(in thousands 160 180 200 220 240 260 280
of dollar)
Number of
New Homes
Available
f(p)
40
126 103 82 75 82 40
20
State the linear regression function, f(p),
that estimates the number of new
homes available at a specific sale
price, p. Round all values to the nearest
hundredth.
State the correlation coefficient of the
data to the nearest hundredth. Explain
what this means in the context of the
problem.