This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A county real estate appraiser wants to develop a statistical model to predict the appraised value ... (Read 404 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
on: Feb 14, 2020
A county real estate appraiser wants to develop a statistical model to predict the appraised value of houses in a section of the county called East Meadow. One of the many variables thought to be an important predictor of appraised value is the number of rooms in the house. Consequently, the appraiser decided to fit the simple linear regression model:

E(y) = β0 + β1x,


where y = appraised value of the house (in thousands of dollars) and x = number of rooms. Using data collected for a sample of n = 80 houses in East Meadow, the following results were obtained:

      = 80.80 + 19.72x

What are the properties of the least squares line, = 80.80 + 19.72x?
◦ It will always be a statistically useful predictor of y.
◦ Average error of prediction is 0, and SSE is minimum.
◦ All 80 of the sample y-values fall on the line.
◦ It is normal, mean 0, constant variance, and independent.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by imanialler on Feb 14, 2020

aburgess

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Feb 14, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


J Yun

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Mar 19, 2021
thank you


« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

A model for formation of a minimal preinitiation complex (PIC) for pol II on a TATA promoter A model for formation of a minimal preinitiation complex (PIC) for pol II on a TATA promoter
Solow Model with Saving Dependent on Income Level Solow Model with Saving Dependent on Income Level
Model of GABA - receptor chloride channel Model of GABA - receptor chloride channel
Can you identify the banding patterns predicted by each model after the first round of ... Can you identify the banding patterns predicted by each model after the first round of ...
People with Huntington disease develop problems with neuromuscular control and gradually lose the us People with Huntington disease develop problems with neuromuscular control and gradually lose the us
The attenuation model regulating the tryptophan operon The attenuation model regulating the tryptophan operon
Video: The Nerve Impulse

For a complete list of videos, visit our video library