ansewr

4. A realtor studied the relation between X I = yearly income (in thousands of dollars per year) of home purchasers, the location of the property, and stale price of the house (in thousands of dollars). Data were obtained from mortgage applications for 24 sales in the realtor's basic sales area in one season. There were three possible locations considered, urban, suburban, and rural. The realtor introduced two dummy variables, XU and X S. XU is a dummy variable for urban location, and X 3 is a dummy variable for suburban location. Minitab gave the following results: A Y = 52.3 + 2.1 x X; +102 >