Solved

Consider the Following to Answer the Question(s) Below

Question 10

Multiple Choice

Consider the following to answer the question(s) below:
A regression equation that predicts the price of homes in thousands of dollars is Consider the following to answer the question(s)  below: A regression equation that predicts the price of homes in thousands of dollars is   = 24.6 + 0.055x1, where x1 is a variable that represents the assessed value of the house and 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 with the same assessed value that are on busy streets are worth $3600 less than homes that are not on busy streets. B)  For a given assessed value, on average, homes that are on busy streets are worth $360 less than homes that are not on busy streets. C)  For a given assessed value, on average, homes that are on busy streets are worth $3600 more than homes that are not on busy streets. D)  On average, homes with the same assessed value that are on busy streets are worth $360 more than homes that are not on busy streets. E)  For a given assessed value, on average, homes that are on busy streets are worth 24.6 - 3.6 = $19000 less than homes that are not on busy streets. = 24.6 + 0.055x1, where x1 is a variable that represents the assessed value of the house and 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 with the same assessed value that are on busy streets are worth $3600 less than homes that are not on busy streets.
B) For a given assessed value, on average, homes that are on busy streets are worth $360 less than homes that are not on busy streets.
C) For a given assessed value, on average, homes that are on busy streets are worth $3600 more than homes that are not on busy streets.
D) On average, homes with the same assessed value that are on busy streets are worth $360 more than homes that are not on busy streets.
E) For a given assessed value, on average, homes that are on busy streets are worth 24.6 - 3.6 = $19000 less than homes that are not on busy streets.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions