Confidence interval estimates of a population parameter O provide a range of values within which the true value of the parameter is believed to be specify a value that accurately predicts the population parameter eliminates the effect of sampling error O are used solely to estimate the value of population variance For the least-square equation, Y-3,650 +2,500X, Y represents house prices and represent number of rooms. Which of the following statement is true? For every additional room that is added in a house, house price increases by $2,500 Only 36.5% of the variation in house prices can be explained by the number of rooms in the house. As the number of rooms in the house increase price fall by $3,650 25% of the house price is attributed to the number of rooms