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A regression analysis of 117 homes for sale produced the following model, where price is in thousands of dollars and size is in square feet. Price = 47.82 +0.067(Size) a) Explain what the slope of the line says about housing prices and house size. b) What price would you predict for a 3500-square-foot house in this market? c) A real estate agent shows a potential buyer a 1100-square-foot house, saying that the asking price is $6500 less than what one would expect to pay for a house of this size. What is the asking price, and what is the $6500 called? a) Explain what the slope of the line says about housing prices and house size. OA. For every additional square foot of area of a house, the price is predicted to increase by $67. B. For every $1000 increase in price of a house, the size is predicted to increase by 0.067 square feet. C. For every $1 increase in price of a house, the size is predicted to increase by 67 square feet. D. For every additional square foot of area of a house, the price is predicted to increase by $0.067.

A regression analysis of 117 homes for sale produced the following model, where price is in thousands of dollars and size is in square feet. Price = 47.82 +0.067(Size) a) Explain what the slope of the line says about housing prices and house size. b) What price would you predict for a 3500-square-foot house in this market? c) A real estate agent shows a potential buyer a 1100-square-foot house, saying that the asking price is $6500 less than what one would expect to pay for a house of this size. What is the asking price, and what is the $6500 called? a) Explain what the slope of the line says about housing prices and house size. OA. For every additional square foot of area of a house, the price is predicted to increase by $67. B. For every $1000 increase in price of a house, the size is predicted to increase by 0.067 square feet. C. For every $1 increase in price of a house, the size is predicted to increase by 67 square feet. D. For every additional square foot of area of a house, the price is predicted to increase by $0.067.

MATLAB: An Introduction with Applications
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 regression analysis of 117 homes for sale produced the following model, where price is in thousands of dollars and size is in square feet. Price = 47.82 +0.067(Size) a) Explain what the slope of the line says about housing prices and house size. b) What price would you predict for a 3500-square-foot house in this market? c) A real estate agent shows a potential buyer a 1100-square-foot house, saying that the asking price is $6500 less than what one would expect to pay for a house of this size. What is the asking price, and what is the $6500 called? a) Explain what the slope of the line says about housing prices and house size. C O A. For every additional square foot of area of a house, the price is predicted to increase by $67. OB. For every $1000 increase in price of a house, the size is predicted to increase by 0.067 square feet. O C. For every $1 increase in price of a house, the size is predicted to increase by 67 square feet. O D. For every additional square foot of area of a house, the price is predicted to increase by $0.067.
Transcribed Image Text:A regression analysis of 117 homes for sale produced the following model, where price is in thousands of dollars and size is in square feet. Price = 47.82 +0.067(Size) a) Explain what the slope of the line says about housing prices and house size. b) What price would you predict for a 3500-square-foot house in this market? c) A real estate agent shows a potential buyer a 1100-square-foot house, saying that the asking price is $6500 less than what one would expect to pay for a house of this size. What is the asking price, and what is the $6500 called? a) Explain what the slope of the line says about housing prices and house size. C O A. For every additional square foot of area of a house, the price is predicted to increase by $67. OB. For every $1000 increase in price of a house, the size is predicted to increase by 0.067 square feet. O C. For every $1 increase in price of a house, the size is predicted to increase by 67 square feet. O D. For every additional square foot of area of a house, the price is predicted to increase by $0.067.
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