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

Author Question: A real estate magazine reported the results of a regression analysis designed to predict the price ... (Read 163 times)

dbose

  • Hero Member
  • *****
  • Posts: 597
on: Jan 16, 2020
A real estate magazine reported the results of a regression analysis designed to predict the price (y), measured in dollars, of residential properties recently sold in a northern Virginia subdivision. One independent variable used to predict sale price is GLA, gross living area (x), measured in square feet. Data for 157 properties were used to fit the model, = β0 + β1x. The results of the simple linear regression are provided below.
= 96,600 + 22.5x   s = 6500   r2 = -0.77   t = 6.1 (for testing β1)
Interpret the estimate of β0, the y-intercept of the line.
◦ About 95% of the observed sale prices fall within $96,600 of the least squares line.
◦ All residential properties in Virginia will sell for at least $96,600.
◦ For every 1-sq ft. increase in GLA, we expect a property's sale price to increase $96,600.
◦ There is no practical interpretation, since a gross living area of 0 is a nonsensical value.
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 dbose on Jan 16, 2020

allisonblackmore

  • Sr. Member
  • ****
  • Posts: 330
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


dbose

  • Member
  • Posts: 597
Reply 2 on: Jan 16, 2020
Great answer, keep it coming :)

carojassy25

  • Member
  • Posts: 299
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Women who reported one, two, or three or more major life events in the past 5 years were ... Women who reported one, two, or three or more major life events in the past 5 years were ...
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Price of Computers, 1982–2010 Price of Computers, 1982–2010
Reciprocal Analysis Reciprocal Analysis
Determine the # of real roots from the equation Determine the # of real roots from the equation
Mutation analysis of the -globin gene promoter Mutation analysis of the -globin gene promoter
Video: Exocytosis - secretion

For a complete list of videos, visit our video library