Answered: Real estate A random sample of records…

Elementary Linear Algebra (MindTap Course List)

8th Edition

ISBN:9781305658004

Author:Ron Larson

Publisher:Ron Larson

Chapter2: Matrices

Section2.CR: Review Exercises

Problem 89CR: Cellular Phone Subscribers The table shows the numbers of cellular phone subscribers y in millions...

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Question

Real estate A random sample of records of sales of
homes from February 15 to April 30, 1993, from the files
maintained by the Albuquerque Board of Realtors gives

the Price and Size (in square feet) of 117 homes. A re-
gression to predict Price (in thousands of dollars) from

Size has an R-squared of 71.4%. The residuals plot indi-
cated that a linear model is appropriate.

a) What are the variables and units in this regression?
b) What units does the slope have?
c) Do you think the slope is positive or negative?
Explain.

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