Predicting home sales price. Refer to the data on sale prices and total appraised values of 76 residential properties recently sold in an upscale Tampa, Florida, neighborhood. The MINITAB simple linear regression printout relating sale price (y) to appraised property (market) value (x) is reproduced on the next page, followed by a MINITAB correlation printout.
(a) Find the coefficient of correlation between appraised property value and sale price on the printout. Interpret this value.
(b) Find the coefficient of determination between appraised property value and sale price on the printout. Interpret this value.
