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Let's look at the relationship between hour Price (in thousands of dollars) and house Size (In thousands of square feet) In Saratoga. The relationship is Price = -3.117 +94.454 Size with r=0.77 a. You go to an open house and find that the house is 1 standard deviation above the mean in size. What would you guess about its price? kype your answer... b. You read an ad for a house priced 2 standard deviations below the mean. What would you guess about its size? type your answer.... c. What does the slope of 94.454 mean? type your answer... d. What are the units of the slope? type your answer... e. Your house is 2000 sq ft bigger than your neighbor's house. How much more do you expect it to be worth? type your answer... f. Is the y-intercept of -3.117 meaningful? Explain.

Let's look at the relationship between hour Price (in thousands of dollars) and house Size (In thousands of square feet) In Saratoga. The relationship is Price = -3.117 +94.454 Size with r=0.77 a. You go to an open house and find that the house is 1 standard deviation above the mean in size. What would you guess about its price? kype your answer... b. You read an ad for a house priced 2 standard deviations below the mean. What would you guess about its size? type your answer.... c. What does the slope of 94.454 mean? type your answer... d. What are the units of the slope? type your answer... e. Your house is 2000 sq ft bigger than your neighbor's house. How much more do you expect it to be worth? type your answer... f. Is the y-intercept of -3.117 meaningful? Explain.

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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Let's look at the relationship between hour Price (in thousands of dollars) and house Size (In thousands of square feet) In Saratoga. The relationship is Price = -3.117 +94.454 Size a. You go to an open house and find that the house is 1 standard deviation above the mean in size. What would you guess about its price? type your answer... b. You read an ad for a house priced 2 standard deviations below the mean. What would you guess about its size? type your answer... c. What does the slope of 94.454 mean? type your answer.... d. What are the units of the slope? type your answer... e. Your house is 2000 sq ft bigger than your neighbor's house. How much more do you expect it to be worth? type your answer.. with r=0.77 f. Is the y-intercept of -3.117 meaningful? Explain. 30000
Transcribed Image Text:Let's look at the relationship between hour Price (in thousands of dollars) and house Size (In thousands of square feet) In Saratoga. The relationship is Price = -3.117 +94.454 Size a. You go to an open house and find that the house is 1 standard deviation above the mean in size. What would you guess about its price? type your answer... b. You read an ad for a house priced 2 standard deviations below the mean. What would you guess about its size? type your answer... c. What does the slope of 94.454 mean? type your answer.... d. What are the units of the slope? type your answer... e. Your house is 2000 sq ft bigger than your neighbor's house. How much more do you expect it to be worth? type your answer.. with r=0.77 f. Is the y-intercept of -3.117 meaningful? Explain. 30000
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