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The accompanying table shows a portion of a data set that refers to the property taxes...

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Statistics

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

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

a. Estimate the sample regression equation thatenables us to predict property taxes on the basis of the size ofthe home. (Round your answers to 2 decimalplaces.)

taxes = ______ + ______ size

b. Interpret the slope coefficient.

a. As Property Taxes increase by 1 dollar, the size of the houseincreases by 6.78 ft.

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

c. Predict the property taxes for a1,500-square-foot home. (Round coefficient estimates to atleast 4 decimal places and final answer to 2 decimalplaces.)

taxes _________

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