The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper.
(a) Calculate the value of the correlation coefficient between sale price and size. (Give the answer to three decimal places.)
r = ________
(b) Calculate the value of the correlation coefficient between sale price and land-to-building ratio. (Give the answer to three decimal places.)
r = _______
(c) If you wanted to predict sale price and you could use either size or land-to-building ratio as the basis for making predictions, which would you use?
A) Size
B)Land-to-building ratio
(d) Based on your choice in Part (c), find the equation of the least-squares regression line you would use for predicting y = sale price. (Give answers to three decimal places.)
y= _____ +______ x