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Author Question: A county real estate appraiser wants to develop a statistical model to predict the appraised value ... (Read 107 times)

tingc95

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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 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 = 74 houses in East Meadow, the following result was obtained:

      = 74.80 + 19.72x

Which of the following statements concerning the deterministic model, E(y) = β0 + β1x is true?
◦ In theory, if the appraised values y and number of rooms x for the entire population of houses in East Meadow were obtained and the (x, y) data points plotted, the points would fall in a straight line.
◦ In theory, a plot of the mean appraised value E(y) against the number of rooms x for the entire population of houses in east Meadow would result in a straight line.
◦ A plot of the predicted appraised values against the number of rooms x for the sample of houses in East Meadow would not result in a straight line.
◦ All of the above statements are true.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by tingc95 on Feb 14, 2020

mbcrismon

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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.
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tingc95

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Reply 2 on: Feb 14, 2020
Excellent

jojobee318

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Reply 3 on: Yesterday
Wow, this really help

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