A researcher wants to develop a model to predict the taxes of houses, based on assessed value. A sample of 30 single-fam

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A Researcher Wants To Develop A Model To Predict The Taxes Of Houses Based On Assessed Value A Sample Of 30 Single Fam 1 (158.41 KiB) Viewed 17 times

Assessed Value Taxes425.4 5006368.9 3702311.2 3693376.4 5197446.1 4456508.9 5175342.7 3417342.4 3937431.3 4403329.3 3262293.2 2881398.2 4013389.6 4719478.3 4896479.3 4878389.3 3913371.4 3738311.5 3097343.3 3633304.5 3530275.4 3423456.5 4638230.8 4011447.6 4562509.2 5938305.7 3037348.5 3503412.8 3377277.4 2709338.4 4300
A researcher wants to develop a model to predict the taxes of houses, based on assessed value. A sample of 30 single-family houses listed for sale in a particular region is selected. The taxes (in $) and the assessed value of the houses (in $thousands) are recorded, with the accompanying results. Complete parts (a) through (g) below. Click the icon to view the house data. Determine the regression coefficients bo and b₁. ¡ = 861.361 + (8.467) X₁ (Round to three decimal places as needed. Do not include the $ symbol in your answers.) b. Interpret the meaning of the Y-intercept, bo, and the slope, b₁, in this problem. Interpret the Y-intercept, if appropriate. Choose the correct answer below. A. It is not appropriate to interpret the Y-intercept because it is outside the range of observed taxes. B. It is not appropriate to interpret the Y-intercept because a house cannot have an assessed value of $0. C. The Y-intercept indicates the predicted assessed value for a house with $0 in taxes. D. It is not appropriate to interpret the Y-intercept because it is outside the range of observed assessed values. E. It is not appropriate to interpret the Y-intercept because a house cannot have $0 in taxes. F. The Y-intercept indicates the predicted taxes for a house with an assessed value of $0.