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.
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
Related questions
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe7c0167-e6eb-48f3-879d-3624fa9297a6%2F94499f53-469c-4ab1-adbb-ce246dec7a5b%2F3p741ma_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 × (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.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman