A regression analysis of 117 homes for sale produced the following model, where price is in thousands of dollars and size is in square feet. ModifyingAbove Price with caretequals47.82plus0.064 (Size) a) Explain what the slope of the line says about housing prices and house size. b) What price would you predict for a 2500 -square-foot house in this market? c) A real estate agent shows a potential buyer a 1100 -square-foot house, saying that the asking price is $5500 less than what one would expect to pay for a house of this size. What is the asking price, and what is the $5500 called?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A regression analysis of 117 homes for sale produced the following model, where price is in thousands of dollars and size is in square ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
One of the keys to writing a succesful questionaire is to? a. ask yes or no questions b. use clever questions that hide your true motives c. provide multiple-choice answers for each question d. ask exactly what you need to know
Answers (1)
The CBC machine measures: Reptile body temperature Heart rate Complete blood count Canine bone count
Answers (1)
Time Unlimited makes grandfather clock kits that it sells to hobbyists who then assemble and finish the clocks. The company has the capacity to make 5,000 of the kits, and its current volume is 3,000 kits.
Answers (1)
Which of the following information should be part of your travelers' business travel profiles? A. Family information, such as number and ages of children B. Religious and spiritual beliefs C. Preferred airline, class of service, and special meals D.
Answers (1)
EB14. LO 4.7Job 113 was completed at a cost of $7,500, and Job 85 was completed at a cost of $2,300 and sold on account for $4,500. Prepare journal entries for the following: Completion of Job 113. Completion and sale of Job 85.
Answers (1)
New Questions in Business
Zappos, the online shoe and clothing marketer, promises free shipping and free returns on any of its products, no questions asked. This is an example of how Zappos has a strong competitive advantage through
Answers (1)
Based on the corporate valuation model, the total corporate value of chen lin inc. is $900 million. its balance sheet shows $110 million in notes payable, $90 million in long-term debt, $20 million in preferred stock, $140 million in retained
Answers (1)
Larry's lizards and ronaldo's reptiles are competing pet store franchises. both are considering opening a store in the small town of turtleville.
Answers (1)
How does the government of a republic typically shape its economy? A. The government allows citizens to own private businesses. B. The government blocks the ownership of personal property. C. The government owns all homes and other forms of housing.
Answers (1)
For a business credit card, most companies that issue credit, including Visa and Mastercard, specifically state their liability policies: Only cover the first $50.
Answers (1)