A random sample of records of home sales from Feb 15 to Apr. 30, 1993, from the

Question

A random sample of records of home sales from Feb 15 to Apr. 30, 1993, from the files maintained by a board of realtors gives the Price and Size (in square feet) of 117 homes. A regression to predict Price (in thousands of dollars) from Size has an R^2 of 71.4%. The scatterplot indicates that a linear model is appropriate. Complete parts a through c below. What are the variables and units in this regression? Price (in dollars) is y and Number of Houses is x. Price (in thousands of dollars) is y and Size (in square feet) is x. Price (in dollars) is y and Size (in square feet) is x. Size (in square feet) is y and Price (in thousands of dollars) is x. What units does the slope have? The slope has units of dollars per square foot The slope has units of square feet per thousands of dollars. The slope has units of thousands of dollars per square foot. The slope has units of dollar amount. Do you think the slope is positive or negative? Explain. The slope is positive. As the size of the home increases, the price should also increase. The slope is negative. As the size of the home decreases, the price should also decrease. The slope is positive. The price of a home cannot be negative. The slope is negative. As the size of the home increases, the price should decrease

Explanation / Answer

a) C is the answer because y is the price and x is size

b) slope will have the unites of price divided by size i.e C

c) A

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