10.31 Size and selling price of houses.
Table 10.5 describes a random sample of 30 houses sold in a Midwest city during a recent year.14 We examine the relationship between size and price.
hsize
10.31
(a) The relationship is linear, positive, and moderate strength. . 43.06% of the variation in house price can be attributed to house size. House size is fairly useful in determining house price.
(b) . There is a significant linear relationship between price and size. For each additional square foot, house price increases by $76.59.