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 47 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
on: Jan 16, 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, where y = appraised value of the house (in $thousands) and x = number of rooms. Using data collected for a sample of houses in East Meadow, the following results were obtained:
     = 74.80 + 17.80x
     sβ  = 71.24, t = 1.05 (for testing β0)
     sβ  = 2.63, t = 7.49 (for testing β1)
     SSE = 60,775, MSE = 841, s = 29, r2 = .44
     Range of the x-values: 5 - 11
     Range of the y-values: 160 - 300
Give a practical interpretation of the estimate of the slope of the least squares line.
◦ For a house with 0 rooms, we estimate the appraised value to be $74,800.
◦ For each additional dollar of appraised value, we estimate the number of rooms in the house to increase by 17.80 rooms.
◦ For each additional room in the house, we estimate the appraised value to increase $17,800.
◦ For each additional room in the house, we estimate the appraised value to increase $74,800.
Statistics: Informed Decisions Using Data ¦ Sullivan ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by xclash on Jan 16, 2020

coyin

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jan 16, 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


xclash

  • Member
  • Posts: 681
Reply 2 on: Jan 16, 2020
YES! Correct, THANKS for helping me on my review

Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

The Real Reason Why They Repeat the Same 20 Songs on the Radio & TV Nationwide The Real Reason Why They Repeat the Same 20 Songs on the Radio & TV Nationwide
Giger and Davidhizar’s Transcultural Assessment Model. Giger and Davidhizar’s Transcultural Assessment Model.
Anxiety model. Stressful events lead to symptoms of anxiety, which can be resolved by coping ... Anxiety model. Stressful events lead to symptoms of anxiety, which can be resolved by coping ...
Use of CD4 lymphocyte and HIV RNA counts to predict therapeutic outcomes. Use of CD4 lymphocyte and HIV RNA counts to predict therapeutic outcomes.
A model for helicase action A model for helicase action
Microbes that have become model organisms for genetic studies Microbes that have become model organisms for genetic studies
Video: EpiPen Animation (Part 2)

For a complete list of videos, visit our video library