The following table shows the assessed values and the, Ask an Expert

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The following table shows the assessed values and the selling prices of eight houses, constituting a random sample of all the houses sold recently in a metropolitan area

(a) Fit a least squares line that will enable us to predict the selling price of a house in that metropolitan area in terms of its assessed value.

(b) Test the null hypothesis β = 1.30 against the alternative hypothesis β > 1.30 at the 0.05 level of significance.

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