The data shows the list and selling prices for homes. Find regression equation letting the list price be independent x variable. Find the best predicted selling price of a home having a list price of $4 million. Is the result close to the actual selling price of $4.3 million? Significance level is 0.05.
List price millions 3.1, 3.4, 4.3, 3.7, 4.2, 3.4
Selling price millions 3.2, 3.5, 4.6, 4.1, 4.4, 3
What is the regression equation? y hat = __ +__
What is the best predicted selling price of $2 million?
is the result close enough to actual selling price of $1.5 million?