Question

A seller has a house that is 1700 ft^2. The neighborhood comps show the line of best fit to be y=0.074x + 50.48. What is a fair price for this house?

Answer 1

Answer:

176,000

Step-by-step explanation:

The guy above me explained it correctly but forgot to multiply it by 1,000

also AP3X helped me out here

Answer 2

Using the line of best fit, it is found that a fair price for the house is of $176,280.

What does the line of best fit states?

It states that the fair price for a house of x square feet, in thousands of dollars, is given by:

y = 0.074x + 50.48.

In this problem, we have a house of 1700 ft^2, hence the fair price in thousands of dollars is given by:

y = 0.074(1700) + 50.48 = 176.28.

Which is a fair price of $176,280.

More can be learned about a line of best fit at https://brainly.com/question/17261411

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