The table below shows sale price and the number of days on the market before sale, days, for a sample of 10 apartments sold in a particular suburb.
\begin{array}{|c|c|}
\hline \rule{0pt}{2.5ex}\ \ \textbf{Sale price(\$)} \ \ \rule[-1ex]{0pt}{0pt}& \quad \quad \textbf{Days}\quad \quad \\
\hline \rule{0pt}{2.5ex}950\,000 \rule[-1ex]{0pt}{0pt}& 15 \\
\hline \rule{0pt}{2.5ex}925\,000 \rule[-1ex]{0pt}{0pt}\rule[-1ex]{0pt}{0pt}& 18 \\
\hline \rule{0pt}{2.5ex}900\,000 & 23 \\
\hline \rule{0pt}{2.5ex} 900\,000 \rule[-1ex]{0pt}{0pt}& 24 \\
\hline \rule{0pt}{2.5ex}905\,000 \rule[-1ex]{0pt}{0pt}& 26 \\
\hline \rule{0pt}{2.5ex}750\,000 \rule[-1ex]{0pt}{0pt}& 28 \\
\hline \rule{0pt}{2.5ex}680\,000 \rule[-1ex]{0pt}{0pt}& 31 \\
\hline \rule{0pt}{2.5ex}800\,000 \rule[-1ex]{0pt}{0pt}& 35 \\
\hline \rule{0pt}{2.5ex}590\,000 \rule[-1ex]{0pt}{0pt}& 46 \\
\hline \rule{0pt}{2.5ex}600\,000 \rule[-1ex]{0pt}{0pt}& 65 \\
\hline
\end{array}
- Use the data in the table above to find the equation of the least squares line.
- Write your answers in the boxes below, rounding both values to four significant figures. (2 marks)
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- sale price\(=\begin{array}{|c|}\hline \rule{0pt}{5 ex} \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \\ \hline \end{array} \times \begin{array}{|c|}\hline \rule{0pt}{5 ex}\quad \quad \quad \quad \quad \quad\\ \hline \end{array} \times\)days
- For this data, Pearson's correlation coefficient is \(r=-0.866\), rounded to three decimal places.
- Explain the meaning of the coefficient of determination, as a whole percentage, in the context given in this question. (1 mark)
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