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Fair market value of a house

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A realtor wants to know if he can estimate the fair market value of a house using the lot size as a predictor. Below is a sample of his data.

Property Size (acres) Fair Market Value ($000)

0.1889 417.3

0.2755 356.4

1.3100 889.0

0.2348 740.3

0.2348 963.6

0.1148 681.8

0.1148 346.9

0.4626 454.4

What is the value of b1, the coefficient of property size? Round your answer to 1 decimal place.

Reference no: EM131726070

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