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The equation of the least-squares regression line for predicting selling price from appraised value is

(a)price^=79.49+0.1126(appraised value)

(b)price^=0.1126+1.0466(appraised value)

(c)price^=127.27+1.0466(appraised value)

(d)pnice^=1.0466+127.27(appraised value)

(e)price^=1.0466+69.7299(appraised value).

Short Answer

Expert verified

price^=127.27+1.0466(appraised value)

Step by step solution

01

Given Information

Need to find the least-squares regression line for predicting selling price from the appraised value.

02

Explanation

General least-squares regression equation:

price=a+b(appraisedvalue)

The y-intercept a is given in the column of "Coef" and in the row of "Constant":

a=127.27

The slope b is given in the column of "Coef" and in the row of "Appraisal":

b=1.0466

The least-squares regression equation then becomes:

price=127.27+1.0466(appraisedvalue)

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Most popular questions from this chapter

A 95%confidence interval for the population slope βis

(a) 1.0466±149.5706.

(b) 1.0466±0.2415.

(c) 1.0466±0.2387.

(d) 1.0466±0.1983.

(e) 1.0466±0.1126.

Time at the table Refer to Exercise 14.

(a) Construct and interpret a 98% confidence interval for the slope of the population regression line. Explain how your results are consistent with the significance test in Exercise 14.

(b) Interpret each of the following in context:

(i)s

(ii) r2

(iii) The standard error of the slope

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Do each of the following for both transformations.

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