question archive Suppose Isabella has developed the following estimated regression equation for the price of an Edmonton condo, based off square footage size (in square feet)
Suppose Isabella has developed the following estimated regression equation for the price of an Edmonton condo, based off square footage size (in square feet)
Subject:StatisticsPrice: Bought3
Suppose Isabella has developed the following estimated regression equation for the price of an Edmonton condo, based off square footage size (in square feet). Price = 140000 + 44*(Square Footage) (a) If someone wants to purchase an Edmonton condo with a size of 780 square feet, how much should they expect to pay? Answer: dollars (b) If they want to buy a condo that is 37 square feet bigger, then how much more money should they expect to pay? Answer: dollars (c) Would the intercept be meaningful if this regression represents the average Edmonton condo? Yes No
