Question: (Complete the data set Commercial Real Estate) Write the fitted regression equation and interpret the slope. Must use Excel for the computation.

Choose one of these three data sets. (a) Make a scatter plot. (b) Let Excel estimate the regression line, with fitted equation and R2. (c) Describe the fit of the regression. (d) Write the fitted regression equation and interpret the slope. (e) Do you think that the estimated intercept is meaningful? Explain. Commercial Real Estate (X = assessed value, $000; Y = floor space, sq. ft.)

Commercial Real Estate (X = assessed value, $000; Y = floor space, sq. ft.)

Assessed

Assessed Size

1,796 4,790

1,544 4,720

2,094 5,940

1,968 5,720

1,567 3,660

1,878 5,000

949 2,990

910 2,610

1,774 5,650

1,187 3,570

1,113 2,930

671 1,280

1,678 4,880

710 1,620

678 1,820