Hanna Properties, Inc. specializes in custom home resales inEquestrian Estates. A random sample of 8 currently listed homesprovided the following information on size of home and the price ofthe home. The size data are in hundreds of square feet, rounded tothe nearest hundred, and the price data are in thousands ofdollars, rounded to the nearest thousand.
| Size (X) | Price (Y) |
| 26 | 235 |
| 27 | 249 |
| 33 | 267 |
| 29 | 269 |
| 34 | 345 |
| 30 | 415 |
| 40 | 475 |
| 22 | 195 |
a) Compute the regression equation for price in terms of size.
b) Interpret the meaning of the regression parameters.
c) Compute r and r2.  Interpret thesestatistics
d) Based upon the model above, what would be the predicted salesprice of a home that is 3100 square feet?
