The Sanchez family wants to sell their house, which is 2800 square feet in size. Mr. Sanchez

Question:

The Sanchez family wants to sell their house, which is 2800 square feet in size.

Mr. Sanchez notices that the slope of the least-squares regression line for predicting price from size is 0.0992. He says that if they put a 250-square-foot addition on their house, the selling price will increase by (0.0992)(250) = 24.8 thousand dollars, or

$24,800. Is this necessarily a good prediction? Explain.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Elementary Statistics

ISBN: 9781259969454

3rd Edition

Authors: William Navidi, Barry Monk

Question Posted: