Business, 02.12.2019 19:20 Hockeypro1127

# Aregression analysis of 117 homes for sale produced the following regression equation, where price is in thousands of dollars and size is in square feet. regimage04

(a) what does the slope of the line say about housing prices and size?

a. for every $1,000 increase in price of a house, the size is predicted to increase by 0.061 square foot.

b. for every additional square foot of area of a house, the price is predicted to increase by $61.

c. for every additional square foot of area of a house, the price is predicted to increase by $0.061.

d. for every $1 increase in price of a house, the size is predicted to increase by 61 square feet.

(b) a realtor shows a potential buyer a 1900 square-foot house, saying that the asking price is $4300 less than what one would expect to pay for a house of this size. what is the asking price of this house and what is the residual?

a. the asking price is $163710 and the residual is a positive $4300 .

b. the asking price is $163710 and the residual is a negative $4300 .

c. the asking price is $159410 and the residual is a positive $4300 .

d. the asking price is $159410 and the residual is a negative $4300 .

Answers: 3

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