Lopez Young a research firm for the real estate industry

Last updated: 5/5/2023

Lopez Young a research firm for the real estate industry studied the relation between z annual income in thousands of dollars and y sale price of house purchased in thousands of dollars A random sample of data was collected from mortgage applications for home sales in the region of the study and is given in the table Annual Income 81 136 59 143 53 93 123 100 108 This indicates House Price 161 9 201 4 Correlation coefficient 140 8 252 1 Conduct a linear regression Use the results to answer the following questions a What is the value of the correlation coefficient round to 3 decimal places What does the value tell you about the linear relationship between the annual income and the price of house purchased 111 7 145 5 317 5 198 271 2