In this example we use the typical sales price of homes in a random sample of US counties (recorded with units as $1000 per square foot) to predict the typical rental cost in the county (in units of $ per square foot). y: The typical Rental Cost in the county (units: $ per square foot). x: The typical sales price of properties in the county (units: $1000 per square foot). Assume we compare counties A and B. County A has a typical sales price of properties at $258 per square foot higher than county B. Assume the regression equation is the Rental cost in county A to be in county B. = 0.5 +2.22. This model would predict $ per square foot higher than the rental cost Record your answer with at least 3 decimal places. You should really carefully consider the units for this problem.
In this example we use the typical sales price of homes in a random sample of US counties (recorded with units as $1000 per square foot) to predict the typical rental cost in the county (in units of $ per square foot). y: The typical Rental Cost in the county (units: $ per square foot). x: The typical sales price of properties in the county (units: $1000 per square foot). Assume we compare counties A and B. County A has a typical sales price of properties at $258 per square foot higher than county B. Assume the regression equation is the Rental cost in county A to be in county B. = 0.5 +2.22. This model would predict $ per square foot higher than the rental cost Record your answer with at least 3 decimal places. You should really carefully consider the units for this problem.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 94E
Related questions
Question
![In this example we use the typical sales price of homes in a random sample of US
counties (recorded with units as $1000 per square foot) to predict the typical rental
cost in the county (in units of $ per square foot).
y: The typical Rental Cost in the county (units: $ per square foot).
x: The typical sales price of properties in the county (units: $1000 per square foot).
Assume we compare counties A and B. County A has a typical sales price of properties
at $258 per square foot higher than county B.
Assume the regression equation is ŷ = 0.5 +2.2x. This model would predict
the Rental cost in county A to be. $ per square foot higher than the rental cost
in county B.
Record your answer with at least 3 decimal places. You should really carefully
consider the units for this problem.
567.6
A calculation to report a predicted change in y for a given change in x should
not require using the intercept as part of the calculation. Based on the
interpretation of the slope an additional $1000 increase in the typical sales
price per square foot increases the predicted rental price per square foot by
$2.20. Try to consider expanding the interpretation of the slope here.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa714f8ea-3c62-4604-98fe-f322aba4921d%2F49eb233b-c868-4dc9-a39f-dcc5c248bb8d%2Fx5z6t3s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In this example we use the typical sales price of homes in a random sample of US
counties (recorded with units as $1000 per square foot) to predict the typical rental
cost in the county (in units of $ per square foot).
y: The typical Rental Cost in the county (units: $ per square foot).
x: The typical sales price of properties in the county (units: $1000 per square foot).
Assume we compare counties A and B. County A has a typical sales price of properties
at $258 per square foot higher than county B.
Assume the regression equation is ŷ = 0.5 +2.2x. This model would predict
the Rental cost in county A to be. $ per square foot higher than the rental cost
in county B.
Record your answer with at least 3 decimal places. You should really carefully
consider the units for this problem.
567.6
A calculation to report a predicted change in y for a given change in x should
not require using the intercept as part of the calculation. Based on the
interpretation of the slope an additional $1000 increase in the typical sales
price per square foot increases the predicted rental price per square foot by
$2.20. Try to consider expanding the interpretation of the slope here.
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