A house is listed for sale at $205,000, but the listing does not include square footage of the house. Based on the comps, the line of best fit is y=0.07x+50.5. If the price is fair, what size (in square feet) should the house be?

Question

Mathematics

Spencer Horn

6 August, 02:23

A house is listed for sale at $205,000, but the listing does not include square footage of the house. Based on the comps, the line of best fit is y=0.07x+50.5. If the price is fair, what size (in square feet) should the house be?

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Answers (2)

Know the Answer?

Ernie · Answer 1

The answer would be 2200 ft 2

Skylar Cobb · Answer 2

We are asked to solve for the square feet size, which is the x variable in the problem. The "y" variable is equivalent to $205,000.

We have the expression y = 0.07x + 50.5. Solving for x, we have:

Y = 0.07x + 50.5

$205,000 = 0.07x + 50.5

($205,000 - 50.5) / 0.07 = x

x = 2,927,850