Would it be appropriate for the real estate agent to use this model to make a prediction about the number of days a house that is price $120 above market value would sit vacant? A. Yes, it would be appropriate because R2 is close to 1, and $120 is close to the given data values B. No, it would not be appropriate becausee $120 is an interpolation value C. Yes, it would be appropriate because this situation should be modeled by an increasing linear function D. No, it would not be appropriate because r2 is not close to 1
Would it be appropriate for the real estate agent to use this model to make a prediction about the number of days a house that is price $120 above market value would sit vacant? A. Yes, it would be appropriate because R2 is close to 1, and $120 is close to the given data values B. No, it would not be appropriate becausee $120 is an interpolation value C. Yes, it would be appropriate because this situation should be modeled by an increasing linear function D. No, it would not be appropriate because r2 is not close to 1
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
70
Would it be appropriate for the real estate agent to use this model to make a prediction about the number of days a house that is price $120 above market value would sit vacant?
A. Yes, it would be appropriate because R2 is close to 1, and $120 is close to the given data values
B. No, it would not be appropriate becausee $120 is an interpolation value
C. Yes, it would be appropriate because this situation should be modeled by an increasing linear
D. No, it would not be appropriate because r2 is not close to 1
Transcribed Image Text:A real estate agent wants to develop a model for the number of days a rental property sits vacant based on how much the rental price is
compared to the market value. The given graph shows the rental price for 15 of the real estate agent's previous rental properties compared to
market value and number of days the house sat vacant. The real estate agent fit the data with an exponential function, which has an 2 value
0.83.
|Number of days house sat vacant
55
50
45
40
35
30
25
20
150
10-
5
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman