The formula for the best fit line from the previous question is y = −72359.6+216. 2x, where y is sales price and is squa
Posted: Tue Jul 05, 2022 9:21 am
- The Formula For The Best Fit Line From The Previous Question Is Y 72359 6 216 2x Where Y Is Sales Price And Is Squa 1 (254.98 KiB) Viewed 25 times
- The Formula For The Best Fit Line From The Previous Question Is Y 72359 6 216 2x Where Y Is Sales Price And Is Squa 2 (240.3 KiB) Viewed 25 times
The formula for the best fit line from the previous question is y = −72359.6+216. 2x, where y is sales price and is square footage of the house. Which of the following is the correct interpretation of the estimated slope term?
Which of the following is the correct interpretation of the estimated slope term? For a 1-unit increase in square footage, the price of a house increases by exactly $216.20. For a 1-unit increase in square footage, the price of a house increases by $216.20 on average. For each additional 1,000 square feet in a house, the sales price increases by $216.20 on average. For each additional 1,000 square feet in a house, the sales price increases by exactly $216.20.