Question

Based on housing data below which equation can be used to calculate fair housing prices?

Square feet
1900
2000
2200

house price (in the thousands 19)
196
205
225

A. y = 0.087x + 9.286
B. y = 0.097x + 11.142
C. y = 0.074x - 50.48
D. y = 0.087x - 9.286

Answer 1

B. y = 0.097x + 11.142

Explanation:

In order to find the best equation to descibe the housing price, we have to calculate the slope of the line first.

The equation of the line can be written as

`y=mx+q`

where m is the slope and q the y-intercept.

In order to have the most accurate estimate for the slope, we use the first point and the last point, that are:

(1900, 196)

and

(2200, 225)

The slope of the line is calculated as:

`m=(y_2-y_1)/(x_2-x_1)=(225-196)/(2200-1900)=0.097`

So, the slope of the line is 0.097.

Therefore, the correct option is the only one having a slope of 0.097, which is:

B. y = 0.097x + 11.142