pleasee help i am strugging 13) The equation of the least squares regression line between a zip code's house square footageand value isŷ = 116x + 75,000where x =square footage and y = home value in dollars.a) Use the regression line to estimate the cost for a 1800 square foot home.b) If a family wants a home that costs of $350,000, what size house can they purchase?

Name: pleasee help i am strugging 13) The equation of the least squares regr
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Description: pleasee help i am strugging 13) The equation of the least squares regression line between a zip code's house square footageand value isŷ = 116x + 75,000where x =square footage and y = home value in dollars.a) Use the regression line to estimate the c

Answered: 13) The equation of the least squares…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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pleasee help i am strugging

13) The equation of the least squares regression line between a zip code's house square footage
and value is
ŷ = 116x + 75,000
where x =
square footage and y = home value in dollars.
a) Use the regression line to estimate the cost for a 1800 square foot home.
b) If a family wants a home that costs of $350,000, what size house can they purchase?

Expert Solution

Introduction

Simple linear regression line is consist of one independent and dependent variable. It explains the effect of dependent variable based on the influence of independent variable. It also helps to predict the independent variable. In general form linear regression line is $y = a + b x$ , where $a$ is intercept and $b$ is slope.

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