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c. If a buyer's annual income increases by $1000, the model's predicted change in DOLLARS of the sale price of the house they will purchase is: a(n) increase (NOTE: be careful of UNITS!) O of $2050.64 X

c. If a buyer's annual income increases by $1000, the model's predicted change in DOLLARS of the sale price of the house they will purchase is: a(n) increase (NOTE: be careful of UNITS!) O of $2050.64 X

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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b. What is the equation of the Least Squares line? Round the parameter values (slope and y intercept) to 2 decimal places. = 33.44 +2.02x ŷ= c. If a buyer's annual income increases by $1000, the model's predicted change in DOLLARS of the sale price of the house they will purchase is: a(n) increase (NOTE: be careful of UNITS!) O of $ 2050.64 X
Transcribed Image Text:b. What is the equation of the Least Squares line? Round the parameter values (slope and y intercept) to 2 decimal places. = 33.44 +2.02x ŷ= c. If a buyer's annual income increases by $1000, the model's predicted change in DOLLARS of the sale price of the house they will purchase is: a(n) increase (NOTE: be careful of UNITS!) O of $ 2050.64 X
Sanchez & Hall, a research firm for the real estate industry, studied the relation between x = annual income (in thousands of dollars) and y= sale price of house purchased (in thousands of dollars). A random sample of data was collected from mortgage applications for home sales in the region of the study, and is given in the table. Annual Income House Price 215.7 211 144.7 278.5 319.5 236.8 144.8 204 286.8 97 120 73 107 135 81 72 ס|א|א 70 108
Transcribed Image Text:Sanchez & Hall, a research firm for the real estate industry, studied the relation between x = annual income (in thousands of dollars) and y= sale price of house purchased (in thousands of dollars). A random sample of data was collected from mortgage applications for home sales in the region of the study, and is given in the table. Annual Income House Price 215.7 211 144.7 278.5 319.5 236.8 144.8 204 286.8 97 120 73 107 135 81 72 ס|א|א 70 108
Expert Solution
Step 1

given data regression equation : y^ = 33.44 + 2.02xhere x = annual income (in thousands of dollars)y = sale price of house purchased ( in thousands of dollars)we have to find change in dollars of the sale price when annual income increases by $ 1000.

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