Question

I have a stats questions:
Estimating the mean sale price of a 3,000 sq. ft house. equation is y=-30,000 +7000x.
I just couldn't figure out the value. Thanks!!!!

Answer 1

the mean sale price depends on number of square feet.
mean sale price = -30,000 + 7000 * ( # sq. foot )

Answer 2

so we plug in 3000 into x

Answer 3

and that makes sense, the average price of a home depends on how big it is

Answer 4

Ok so I got 20,970,000? I got this before but thought it was wrong because of how big the number is.