solution
Rhonda Clark, a Slippery Rock, Pennsylvania, real estate developer, has devised a regression model to help determine residential housing prices in northwestern Pennsylvania. The model was developed using recent sales in a particular neighborhood. The price 
 of the house is based on the size (square footage = 
) of the house. The model is:
The coefficient of correlation for the model is 0.63.
a) Use the model to predict the selling price of a house that is 1,860 square feet.
b) An 1,860-square-foot house recently sold for $95,000.Explain why this is not what the model predicted.
c) If you were going to use multiple regression to developsuch a model, what other quantitative variables might you include?
d) What is the value of the coefficient of determination in this problem?
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