A random sample of records of home sales from March 1 to July 1, 2010 from the files maintained by the Charlottesville Board of Realtors gives the Price (in dollars) and Size (in square feet) of 32 homes. regression model is as follows: Predicted Price = 47,820 + [61 x (Size) ] In this context, does the y-intercept have a reasonable interpretation? O a. The intercept does not have a reasonable interpretation in this context. O b. Yes. For every additional square foot in size, the price is predicted to increase by $47,820 O c. Not enough information is available to determine whether or not the intercept has a reasonable interpretation. O d. Yes. The average house price is $47,820

A random sample of records of home sales from March 1 to July 1, 2010 from the files maintained by the Charlottesville Board of Realtors gives the Price (in dollars) and Size (in square feet) of 32 homes. regression model is as follows: Predicted Price = 47,820 + [61 x (Size) ] In this context, does the y-intercept have a reasonable interpretation? O a. The intercept does not have a reasonable interpretation in this context. O b. Yes. For every additional square foot in size, the price is predicted to increase by $47,820 O c. Not enough information is available to determine whether or not the intercept has a reasonable interpretation. O d. Yes. The average house price is $47,820

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter3: Polynomial Functions

Section3.5: Mathematical Modeling And Variation

Problem 1ECP: The ordered pairs below give the median sales prices y (in thousands of dollars) of new homes sold...

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