A real estate agent has developed a linear model for the price of a house, P, in dollars in terms of the area, A, in square feet for the homes in a certain neighborhood. The data set had areas ranging from 1,000 square feet to 4,500 square feet. Would predicting the prices of a home that is 4,900 square feet be interpolation or extrapolation? Explain. Using the model to predict the price of a 4,900 square foot home is extrapolation because 4,900 square feet is outside the range of the areas in the data.Using the model to predict the price of a 4,900 square foot home is interpolation because 4,900 square feet is inside the range of the areas in the data.Using the model to predict the price of a 4,900 square foot home is extrapolation because 4,900 square feet is inside the range of the areas in the data.Using the model to predict the price of a 4,900 square foot home is interpolation because 4,900 square feet is outside the range of the areas in the data.

As we know that, Extrapolation is an estimation of a value based on extending a known sequence of…

Answered: A real estate agent has developed a…

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 real estate agent has developed a linear model for the price of a house, P, in dollars in terms of the area, A, in square feet for the homes in a certain neighborhood. The data set had areas ranging from 1,000 square feet to 4,500 square feet. Would predicting the prices of a home that is 4,900 square feet be interpolation or extrapolation? Explain.

Using the model to predict the price of a 4,900 square foot home is extrapolation because 4,900 square feet is outside the range of the areas in the data.
Using the model to predict the price of a 4,900 square foot home is interpolation because 4,900 square feet is inside the range of the areas in the data.
Using the model to predict the price of a 4,900 square foot home is extrapolation because 4,900 square feet is inside the range of the areas in the data.
Using the model to predict the price of a 4,900 square foot home is interpolation because 4,900 square feet is outside the range of the areas in the data.

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