Multiple Choice
A regression equation that predicts the price of homes in thousands of dollars is 
t = 24.6 + 0.055x1 - 3.6x2, where x2 is an indicator variable that represents whether the house is on a busy street (1 = yes, 0 = no) . Based on this information, which of the following statements is true?
A) On average, homes that are on busy streets are worth $3600 less than homes that are not on busy streets.
B) On average, homes that are on busy streets are worth $3.60 less than homes that are not on busy streets.
C) On average, homes that are on busy streets are worth $3600 more than homes that are not on busy streets.
D) On average, homes that are on busy streets are worth $3.60 more than homes that are not on busy streets.
E) None of the above is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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