thousands of dollars) and the number of square feet for
20 homes listed by a realtor in a certain city. Complete
parts below.
- The Accompanying Data Table Contains The Listed Prices In Thousands Of Dollars And The Number Of Square Feet For 20 1 (15.32 KiB) Viewed 22 times
- The Accompanying Data Table Contains The Listed Prices In Thousands Of Dollars And The Number Of Square Feet For 20 2 (26.61 KiB) Viewed 22 times
- The Accompanying Data Table Contains The Listed Prices In Thousands Of Dollars And The Number Of Square Feet For 20 3 (7.05 KiB) Viewed 22 times
(b) Estimate the linear equation using least squares. Interpret the fitted intercept and slope. Be sure to include their units. Note if either estimate represents a large extrapolation and is consequently not reliable. Complete the equation for the fitted line below. Estimated Price (9000) = 66.637 + 0.148 Size (Square Feet) (Round to three decimal places as needed.) What is the correct interpretation of the intercept? Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) O A. The intercept is square feet per thousand dollars. For every thousand dollar increase, average size increases by square feet OB. The intercept is thousand dollars per square foot. For every one square foot increase, average prices increase by thousand dollars. O C. The intercept of thousand dollars is a large extrapolation and not directly interpretable. D. The intercept of 66.637 thousand dollars represents the average cost of the land.
(c) Interpret the summary values and se associated with the fitted equation. Attach units to these summary statistics as appropriate. 2 = with Se with (Round to three decimal places as needed.)