The accompanying table shows a portion of a data set that refers to the property taxes owed by a homeowner (in $) and the size of the home (in square feet) in an affluent suburb 30 miles outside New...

The accompanying table shows a portion of a data set that refers to the property taxes owed by a homeowner (in $) and the size of the home (in square feet) in an affluent suburb 30 miles outside New York City.

 Click here for the Excel Data File

Taxes	Size
21,934	2,345
17,334	2,434
⋮	⋮
29,294	2,861

a.Estimate the sample regression equation that enables us to predict property taxes on the basis of the size of the home.(Round your answers to 2 decimal places.)

TaxesˆTaxes^ =  +  Size.

b.Interpret the slope coefficient.

multiple choice

• 
  
  
  

  As Property Taxes increase by 1 dollar, the size of the house increases by 6.78 ft.

  
  
  
  


• 
  
  
  

  As Size increases by 1 square foot, the property taxes are predicted to increase by $6.78.

  
  
  
  

c.Predict the property taxes for a 1,500-square-foot home.(Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)

  TaxesˆTaxes^

Extracted text: A В Taxes Size 21934 2345 17334 2434 18262 1903 15646 1103 43973 5739 33660 2572 15119 2374 16702 1828 18230 2017 16038 1338 15140 1246 36030 3042 31034 2849 42077 3447 14364 1451 38925 3953 25378 3951 22956 2523 16216 3567 29294 2861