The least-squares regression line Sˆ=0.5+1.1L models the relationship between the listing price and the actual sales price of 12 houses, wit

Question

The least-squares regression line Sˆ=0.5+1.1L models the relationship between the listing price and the actual sales price of 12 houses, with both amounts given in hundred-thousands of dollars. Let L represent the listing price and S represent the sales price.

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Hưng Khoa 3 years 2021-07-18T22:58:40+00:00 2 Answers 117 views 0

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  1. thongdat2
    0
    2021-07-18T22:59:45+00:00
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    Answer:

    Answer E

    Step-by-step explanation:

    Nondeterministic language (predicted, on average, estimated, etc.) is used, and the correct increase is indicated.

  2. thienan
    0
    2021-07-18T22:59:46+00:00
    Reply

    Answer:

    For each hundred-thousand-dollar increase in the listing price, the sales price is predicted to increase by $110,000.

    Step-by-step explanation:

    The sales price is not predicted to increase by $1.1; it is predicted to increase by $110,000 because S is measured in hundred-thousands of dollars. The sales price will not decrease by $110,000; it is predicted to increase by $110,000.

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