document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=975289>Question 975289</A>: <I><SPAN STYLE=\"word-break: break-all;\"> With the aim of predicting the selling price of a house in Newburg Park, Florida, from the distance between the house and the beach, we might examine a regression equation relating the two variables. In the table below, the distance from the beach (x, in miles) and selling price (y, in thousands of dollars) for each of a sample of sixteen homes sold in Newburg Park in the past year are given. The least-squares regression equation relating the two variables is yhat=296.54-4.73x.  The line having this equation is plotted in Figure 1.<BR>\n" );
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document.write( "Figure 1\r<BR>\n" );
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document.write( "Distance from the beach, x (in miles):<BR>\n" );
document.write( "6.8<BR>\n" );
document.write( "7.4<BR>\n" );
document.write( "14.2<BR>\n" );
document.write( "3.8<BR>\n" );
document.write( "6.5<BR>\n" );
document.write( "11.7<BR>\n" );
document.write( "12.1<BR>\n" );
document.write( "10.9<BR>\n" );
document.write( "9.6<BR>\n" );
document.write( "10.6<BR>\n" );
document.write( "14.6<BR>\n" );
document.write( "8.4<BR>\n" );
document.write( "17.8<BR>\n" );
document.write( "4.6<BR>\n" );
document.write( "13.1<BR>\n" );
document.write( "5.5\r<BR>\n" );
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document.write( "Selling price, y 9 (in thousands of dollars):<BR>\n" );
document.write( "240.0<BR>\n" );
document.write( "217.6<BR>\n" );
document.write( "188.0<BR>\n" );
document.write( "259.0<BR>\n" );
document.write( "303.0<BR>\n" );
document.write( "222.9<BR>\n" );
document.write( "281.7<BR>\n" );
document.write( "284.4<BR>\n" );
document.write( "233.8<BR>\n" );
document.write( "197.6<BR>\n" );
document.write( "265.9<BR>\n" );
document.write( "296.2<BR>\n" );
document.write( "226.0<BR>\n" );
document.write( "313.1<BR>\n" );
document.write( "200.9<BR>\n" );
document.write( "268.4<BR>\n" );
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document.write( "Based on the above information, answer the following:<BR>\n" );
document.write( "(1) For these data, house prices that are greater than the mean of the house prices tend to be paired with distances from the beach that are [greater than or less than?] the mean of the distances from the beach.<BR>\n" );
document.write( "(2) According to the regression equation, for an increase of one mile in distance from the beach, there is a corresponding decrease of how many thousand dollars in house price?<BR>\n" );
document.write( "(3) What was the observed house price (in thousands of dollars) when the distance (in miles) from the beach was 17.8 miles?<BR>\n" );
document.write( "(4) From the regression equation, what is the predicted house price (in thousands of dollars) when the distance (in miles) from the beach is 17.8 miles? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #598221 by </B><A HREF=/tutors/aboutme.mpl?userid=Fombitz><B>Fombitz(32388)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Fombitz><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Fombitz><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=598221\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 1) Less than<BR>\n" );
document.write( "2) $4730<BR>\n" );
document.write( "3)<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=226000 ALIGN=MIDDLE  ALT=\"P=226000\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "4)<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=296.54-4.73%2A17.8=212346 ALIGN=MIDDLE  ALT=\"P=296.54-4.73%2A17.8=212346\"   DISABLED_style= \"max-width:90%; height:auto;\" >  </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );