- The Formula For The Best Fit Line From The Previous Question Is 2x Where Y Is Sales Price And I Y 72359 6 216 Is Squa 1 (115.99 KiB) Viewed 9 times
- The Formula For The Best Fit Line From The Previous Question Is 2x Where Y Is Sales Price And I Y 72359 6 216 Is Squa 2 (237.94 KiB) Viewed 9 times
The formula for the best fit line from the previous question is 2x, where y is sales price and I y=-72359.6+216. is square footage of the house.
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.