Square footage and home price in Broward County, Florida. The following table contains the square footage and price of a sample of homes in Broward County, Florida. Use this data for Exercises 1–17.
| Home | Square feet | Price |
|---|---|---|
| 1 | 1500 | $156,250 |
| 2 | 2000 | $225,000 |
| 3 | 2000 | $325,000 |
| 4 | 2500 | $412,500 |
| 5 | 2500 | $275,000 |
| 6 | 3000 | $525,000 |
| 7 | 3000 | $625,000 |
| 8 | 3500 | $756,250 |
browardprices
17. Use to calculate the correlation coefficient. Comment on the relationship between square footage and home price.
4.99.17
0.9434. This value of is very close to the maximum value . We would therefore say that price and square feet are positively correlated. As square feet increases, price also tends to increase.