Question: solve Suppose you have a data set that includes the sale price of homes (price), the area of the home in square feet (area), the
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Suppose you have a data set that includes the sale price of homes (price), the area of the home in square feet (area), the number of bedrooms, the lot size in square feet, and the distance in miles from the city center (miles). Model F rice mean(price price ~ mean(price) = Bo + P,area/100 + 8.bedrooms + 3lot + 64miles + std_dev(price) Suppose you estimate a value of 8, = 0.1. What is the correct interpretation of this estimate? Each 100 square foot increase in house size is associated with an increase in sale price of 10% of the mean sale price. Each 100 square foot increase in house size is associated with an increase in sale price of 0.1 standard deviations from the mean sale price. Each 1 square foot increase in house size is associated with an increase in sale price of 100 dollars. Each 1 square foot increase in house size is associated with an increase in sale price of 1 standard deviations from the mean sale priceStep by Step Solution
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