Chapter 12.1, Problem 23E

To determine

To select the best option for what does the slope $\beta$ of the population line describes.

Answer to Problem 23E

The option (c) is the correct option.

Explanation of Solution

In the question, appraised market price and the actual market price are compared and the computer output of the data is given. Thus, in general, the slope of the population regression line is the average increase of y as x increases by one. Since, y is the actual selling price in thousands of dollars and x is the appraised market values in thousands of dollars, then correct answer then has to be (c).

Thus, the option (c) is the correct option.