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. The regression model is as follows: Predicted Price = 47,820 + [ 61 x (Size) ] Which of the following statements is true about the slope of the regression line? O a. For every one dollar price increase, the size of the house will increase, on average, by 6.1 feet. O b. For every one dollar price increase, the size of the house will increase, on average, by 61 feet. OC. For every square foot increase in the size of a house, the price will increase, on average, by $61.00. O d. For every square foot increase in the size of a house, the price will increase, on average, by 61 cents.
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. The regression model is as follows: Predicted Price = 47,820 + [ 61 x (Size) ] Which of the following statements is true about the slope of the regression line? O a. For every one dollar price increase, the size of the house will increase, on average, by 6.1 feet. O b. For every one dollar price increase, the size of the house will increase, on average, by 61 feet. OC. For every square foot increase in the size of a house, the price will increase, on average, by $61.00. O d. For every square foot increase in the size of a house, the price will increase, on average, by 61 cents.
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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![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. The
regression model is as follows:
Predicted Price = 47,820 +[61 × (Size) ]
Which of the following statements is true about the slope of the regression line?
O a. For every one dollar price increase, the size of the house will increase, on average, by 6.1 feet.
O b. For every one dollar price increase, the size of the house will increase, on average, by 61 feet.
OC. For every square foot increase in the size of a house, the price will increase, on average, by $61.00
O d. For every square foot increase in the size of a house, the price will increase, on average, by 61 cents.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe7c0167-e6eb-48f3-879d-3624fa9297a6%2F94499f53-469c-4ab1-adbb-ce246dec7a5b%2F3p741ma_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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. The
regression model is as follows:
Predicted Price = 47,820 +[61 × (Size) ]
Which of the following statements is true about the slope of the regression line?
O a. For every one dollar price increase, the size of the house will increase, on average, by 6.1 feet.
O b. For every one dollar price increase, the size of the house will increase, on average, by 61 feet.
OC. For every square foot increase in the size of a house, the price will increase, on average, by $61.00
O d. For every square foot increase in the size of a house, the price will increase, on average, by 61 cents.
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