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Seventy homes for sale in Daytona Beach, Florida, were randomly selected in the Spring of 2023. A regression model to predict house price was run based on square footage and the indicator variable for the Condo (1 if a house was a Condo, 0 if not). There was also an interaction term for squarefootage Condo. Term Intercept Condo square footage Estimate Std. Error -92.27 51.04 -67.62 29.87 0.216 0.013 squarefootage Condo 1.502 0.002 How would you interpret the slope coefficient for squarefootage Condo? O Condos are less expensive by a set amount than elsewhere, but you don't pay extra per square footage. Condos are more expensive by a set amount than elsewhere, but you don't pay extra per square footage. O The slope of the relationship between square footage and the price is less steep for Condos than for other residences. The slope of the relationship between square footage and the price is steeper for Condos than for other residences

Seventy homes for sale in Daytona Beach, Florida, were randomly selected in the Spring of 2023. A regression model to predict house price was run based on square footage and the indicator variable for the Condo (1 if a house was a Condo, 0 if not). There was also an interaction term for squarefootage Condo. Term Intercept Condo square footage Estimate Std. Error -92.27 51.04 -67.62 29.87 0.216 0.013 squarefootage Condo 1.502 0.002 How would you interpret the slope coefficient for squarefootage Condo? O Condos are less expensive by a set amount than elsewhere, but you don't pay extra per square footage. Condos are more expensive by a set amount than elsewhere, but you don't pay extra per square footage. O The slope of the relationship between square footage and the price is less steep for Condos than for other residences. The slope of the relationship between square footage and the price is steeper for Condos than for other residences

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Seventy homes for sale in Daytona Beach, Florida, were randomly selected in the Spring of 2023. A regression model to predict house price was run based on square footage and the indicator variable for the Condo (1 if a house was a Condo, O if not). There was also an interaction term for squarefootage Condo. Term Intercept Condo square footage Estimate Std. Error -92.27 51.04 -67.62 29.87 0.216 0.013 0.002 squarefootage Condo 1.502 How would you interpret the slope coefficient for squarefootage Condo? Condos are less expensive by a set amount than elsewhere, but you don't pay extra per square footage. O Condos are more expensive by a set amount than elsewhere, but you don't pay extra per square footage. The slope of the relationship between square footage and the price is less steep for Condos than for other residences. The slope of the relationship between square footage and the price is steeper for Condos than for other residences
Transcribed Image Text:Seventy homes for sale in Daytona Beach, Florida, were randomly selected in the Spring of 2023. A regression model to predict house price was run based on square footage and the indicator variable for the Condo (1 if a house was a Condo, O if not). There was also an interaction term for squarefootage Condo. Term Intercept Condo square footage Estimate Std. Error -92.27 51.04 -67.62 29.87 0.216 0.013 0.002 squarefootage Condo 1.502 How would you interpret the slope coefficient for squarefootage Condo? Condos are less expensive by a set amount than elsewhere, but you don't pay extra per square footage. O Condos are more expensive by a set amount than elsewhere, but you don't pay extra per square footage. The slope of the relationship between square footage and the price is less steep for Condos than for other residences. The slope of the relationship between square footage and the price is steeper for Condos than for other residences
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