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Suppose Isabella has developed the following estimated regression equation for the price of an Edmonton condo, based off square footage size (in square feet). Price = 151000 + 48* (Square Footage) a) If someone wants to purchase an Edmonton condo with a size of 1010 square feet, how much should they expect to pay? Answer: dollars b) If they want to buy a condo that is 43 square feet bigger, then how much more money should they expect to pay? Answer: dollars c) Would the intercept be meaningful if this regression represents the average Edmonton condo? Yes No

Suppose Isabella has developed the following estimated regression equation for the price of an Edmonton condo, based off square footage size (in square feet). Price = 151000 + 48* (Square Footage) a) If someone wants to purchase an Edmonton condo with a size of 1010 square feet, how much should they expect to pay? Answer: dollars b) If they want to buy a condo that is 43 square feet bigger, then how much more money should they expect to pay? Answer: dollars c) Would the intercept be meaningful if this regression represents the average Edmonton condo? Yes No

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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Suppose Isabella has developed the following estimated regression equation for the price of an Edmonton condo, based off square footage size (in square feet). Price = 151000 + 48* (Square Footage) a) If someone wants to purchase an Edmonton condo with a size of 1010 square feet, how much should they expect to pay? Answer: dollars b) If they want to buy a condo that is 43 square feet bigger, then how much more money should they expect to pay? Answer: dollars c) Would the intercept be meaningful if this regression represents the average Edmonton condo? Yes No
Transcribed Image Text:Suppose Isabella has developed the following estimated regression equation for the price of an Edmonton condo, based off square footage size (in square feet). Price = 151000 + 48* (Square Footage) a) If someone wants to purchase an Edmonton condo with a size of 1010 square feet, how much should they expect to pay? Answer: dollars b) If they want to buy a condo that is 43 square feet bigger, then how much more money should they expect to pay? Answer: dollars c) Would the intercept be meaningful if this regression represents the average Edmonton condo? Yes No
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