The table is missing in the question. The table is attached below.
Solution :
Let X = appraised value
Y = area (square feet)
The regression line is given by :
[tex]$\hat y = b_0+b_1X$[/tex]
[tex]$b_1=\frac{n\sum XY-\sum X \sum Y}{n \sum X^2-(\sum X)^2}$[/tex]
[tex]$=\frac{15(5964990)-(2157)(33370)}{15(404799)-(2157)^2}$[/tex]
[tex]$=12.3267$[/tex]
[tex]$b_0=\frac{\sum Y}{n}-b_1\frac{\sum X}{n}$[/tex]
[tex]$=\frac{33370}{15}-\left(12.3267 \times \frac{2157}{15}\right)$[/tex]
[tex]$b_0=452.0841$[/tex]
The regression line is :
[tex]$\hat Y = 452.0841+12.3267 X$[/tex]
To estimate the error variance, we have:
Error variance, [tex]$\sigma =\sqrt{\frac{\sum (Y-\hat Y)^2}n-2{}}$[/tex]
[tex]$=\sqrt{\frac{587682.3}{15-2}}$[/tex]
[tex]$=212.6178$[/tex]
