A random sample of records of home sales from March 1 to July 1, 2010 from the files maintained by the Charlottesville Board of Realtors gives the Price (in dollars) and Size (in square feet) of 32 homes. regression model is as follows: Predicted Price = 47,820 + [61 x (Size) ] In this context, does the y-intercept have a reasonable interpretation? O a. The intercept does not have a reasonable interpretation in this context. O b. Yes. For every additional square foot in size, the price is predicted to increase by $47,820 O c. Not enough information is available to determine whether or not the intercept has a reasonable interpretation. O d. Yes. The average house price is $47,820
A random sample of records of home sales from March 1 to July 1, 2010 from the files maintained by the Charlottesville Board of Realtors gives the Price (in dollars) and Size (in square feet) of 32 homes. regression model is as follows: Predicted Price = 47,820 + [61 x (Size) ] In this context, does the y-intercept have a reasonable interpretation? O a. The intercept does not have a reasonable interpretation in this context. O b. Yes. For every additional square foot in size, the price is predicted to increase by $47,820 O c. Not enough information is available to determine whether or not the intercept has a reasonable interpretation. O d. Yes. The average house price is $47,820
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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![A random sample of records of home sales from March 1 to July 1, 2010 from the files maintained by the Charlottesville Board of Realtors gives the Price (in dollars) and Size (in square feet) of 32 homes. The
regression model is as follows:
Predicted Price = 47,820 + [61 x (Size) ]
In this context, does the y-intercept have a reasonable interpretation?
O a. The intercept does not have a reasonable interpretation in this context.
O b. Yes. For every additional square foot in size, the price is predicted to increase by $47,820.
O c. Not enough information is available to determine whether or not the intercept has a reasonable interpretation
O d. Yes. The average house price is $47,820.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe7c0167-e6eb-48f3-879d-3624fa9297a6%2F8d1a9e55-4796-4f70-aa4a-2badc315b6ca%2F15jznnp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A random sample of records of home sales from March 1 to July 1, 2010 from the files maintained by the Charlottesville Board of Realtors gives the Price (in dollars) and Size (in square feet) of 32 homes. The
regression model is as follows:
Predicted Price = 47,820 + [61 x (Size) ]
In this context, does the y-intercept have a reasonable interpretation?
O a. The intercept does not have a reasonable interpretation in this context.
O b. Yes. For every additional square foot in size, the price is predicted to increase by $47,820.
O c. Not enough information is available to determine whether or not the intercept has a reasonable interpretation
O d. Yes. The average house price is $47,820.
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