John Howard a Mobile Alabama real estate developer has revised a regression model to help determine residential housing prices in South Alabama. the model
was developed using recent sales in a particular neighborhood. The price (Y) of the house is based on the size (square footage = X) of the house. the model
Y =13473 + 37.65X
The coefficient correlation for the model is 0.63. A) Use the model to predict the selling price of a house that is 1 860 sqaure feet.
B) An 1860-sqaure foot house recently sold for $95000. Explain why this is not why the model predicted.
C. If you were going to use multiple regression to develop such a model what other quantitative variables might you include?
D) What is the value of the coefficient of determination in this problem?