a. Estimate the sample regression equation that enables us to predict property taxes on the basis of the size of the home. (Round your answers to 2 decimal places.)   TaxesˆTaxes^ =  +  Size. b. Interpret the slope coefficient.   multiple choice As Property Taxes increase by 1 dollar, the size of the house increases by 6.78 ft. As Size increases by 1 square foot, the property taxes are predicted to increase by $6.78.   c. Predict the property taxes for a 1,500-square-foot home. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)

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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The accompanying table shows a portion of a data set that refers to the property taxes owed by a homeowner (in $) and the size of the home (in square feet) in an affluent suburb 30 miles outside New York City.

 

 

 Click here for the Excel Data File
 

 

Taxes Size
21,934 2,345
17,334 2,434
29,294 2,861
 


a. Estimate the sample regression equation that enables us to predict property taxes on the basis of the size of the home. (Round your answers to 2 decimal places.)

 

TaxesˆTaxes^ =  +  Size.


b. Interpret the slope coefficient.

 

multiple choice

  • As Property Taxes increase by 1 dollar, the size of the house increases by 6.78 ft.
  • As Size increases by 1 square foot, the property taxes are predicted to increase by $6.78.

 


c. Predict the property taxes for a 1,500-square-foot home. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)

 

  TaxesˆTaxes^               

A
В
Taxes
Size
21934
2345
17334
2434
18262
1903
15646
1103
43973
5739
33660
2572
15119
2374
16702
1828
18230
2017
16038
1338
15140
1246
36030
3042
31034
2849
42077
3447
14364
1451
38925
3953
25378
3951
22956
2523
16216
3567
29294
2861
Transcribed Image Text:A В Taxes Size 21934 2345 17334 2434 18262 1903 15646 1103 43973 5739 33660 2572 15119 2374 16702 1828 18230 2017 16038 1338 15140 1246 36030 3042 31034 2849 42077 3447 14364 1451 38925 3953 25378 3951 22956 2523 16216 3567 29294 2861
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