A least squares regression model performed to predict the selling price of houses found the following equation: Pricê = 169.328+ 35.3Area + 0.718Lotsize - 6543Age where Price is in dollars, Area is in square feet, Lotsize is in square feet, and Age is in years. The R2 is 0.92. One of the following interpretations is correct. Which is it? Explain why. a.) Each year a house Ages, it is worth $6543 less. b.) Every extra square foot of Area is associated with an additional $35.30 in average price, for houses with a given Lotsize and Age. c.) Every dollar in price means Lotsize increases 0.718 square feet. d.) This model fits 92% of the data points exactly.

A least squares regression model performed to predict the selling price of houses found the following equation: Pricê = 169.328+ 35.3Area + 0.718Lotsize - 6543Age where Price is in dollars, Area is in square feet, Lotsize is in square feet, and Age is in years. The R2 is 0.92. One of the following interpretations is correct. Which is it? Explain why. a.) Each year a house Ages, it is worth $6543 less. b.) Every extra square foot of Area is associated with an additional $35.30 in average price, for houses with a given Lotsize and Age. c.) Every dollar in price means Lotsize increases 0.718 square feet. d.) This model fits 92% of the data points exactly.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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