Given the following data for four houses sold in comparable neighborhoods and their corresponding number of square feet, draw a scatter plot and find a linear regression equation representing a relationship between the number of square feet and the selling price of the house.
Square Feet 1512 2581 3005 3022
Selling Price $92,375 $205,000 $255,000 $271,000
To draw the scatter plot, you will plot the number of square feet on the x-axis and the selling price on the y-axis. Each data point will represent one house.
Here are the coordinates for the data points:
(1512, $92,375)
(2581, $205,000)
(3005, $255,000)
(3022, $271,000)
Now, let's plot these points on a graph:
```
|
|
|
|
|
| x
| x x
| x x
| x x x
| x x x x x x
| x x x x x x x
| x x x x x x x x
| x x x x x x x x
______|___x_x_______x_______x____x_____x____x____x____
1500 2000 2500 3000 3500
```
The trendline that best fits the data points is a straight line.
To find the linear regression equation, we need to use statistical software or a calculator that can perform linear regression calculations. These tools will give us the equation for the line of best fit.