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) ] Which of the following statements is true about the slope of the regression line? O a. For every one dollar price increase, the size of the house will increase, on average, by 6.1 feet. O b. For every one dollar price increase, the size of the house will increase, on average, by 61 feet. OC. For every square foot increase in the size of a house, the price will increase, on average, by $61.00. O d. For every square foot increase in the size of a house, the price will increase, on average, by 61 cents.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Question
51
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 × (Size) ]
Which of the following statements is true about the slope of the regression line?
O a. For every one dollar price increase, the size of the house will increase, on average, by 6.1 feet.
O b. For every one dollar price increase, the size of the house will increase, on average, by 61 feet.
OC. For every square foot increase in the size of a house, the price will increase, on average, by $61.00
O d. For every square foot increase in the size of a house, the price will increase, on average, by 61 cents.
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 × (Size) ] Which of the following statements is true about the slope of the regression line? O a. For every one dollar price increase, the size of the house will increase, on average, by 6.1 feet. O b. For every one dollar price increase, the size of the house will increase, on average, by 61 feet. OC. For every square foot increase in the size of a house, the price will increase, on average, by $61.00 O d. For every square foot increase in the size of a house, the price will increase, on average, by 61 cents.
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