Problem 1
Compute sample correlation coefficient and the coefficients for the least-squares regression line
Given the following data
We want to predict the selling price of a house in Newburg Park FL based on the distance the house lies from the beach.
| Distance from the beach, x (in miles) | Selling price, y (in thousands of dollars) |
| 6.2 | 302.7 |
| 18.5 | 216.3 |
| 8.5 | 250 |
| 8.3 | 292.3 |
| 4.1 | 308.5 |
| 4.9 | 264.8 |
| 11.6 | 227 |
| 13.8 | 265.5 |
| 13.5 | 196.6 |
| 13.2 | 188 |
| 10 | 274.4 |
| 7.4 | 234.3 |
| 6.2 | 270.8 |
| 5.7 | 216.4 |
| 10.9 | 197.3 |
| 9.2 | 290.2 |
What is the value of the slope
What is the value of the y-intercept
NOTE: Round answers to three decimal laces
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