Question

Question 5 

In this example we use the typical sales price of homes in a random sample of U5 counties (recorded with units as $ 1000 per square foot to predict the typical rental cost in the county (in units of $ per square foot) -

Y: The typical Rental Cost in the county ($ per square foot).

x : The typical sales price of properties in the county ($1000 per square foot).

Assume we compare the counties A and B. County A has a sales price of properties at $ 45 per square foot higher than county B. What is the difference in the variable x for these two counties?

Answer The variable x is recorded in a dataset to be _______ higher for county A compared to county B.

Question 6

In this example we use the typical sales price of homes in a random sample of US counties (recorded with units as \(\$ 1000\) per square foot) to predict the typical rental cost in the county (in units of \(\$\) per square foot).

\(y:\) The typical Rental Cost in the county (\$ per square foot).

\(x\) - The typical sales price of properties in the county (\$ 1000 per square foot).

Assume we compare counties \(A\) and B. County A has a typical sales price of properties at \(\$ 45\) per square foot higher than county \(B\).

Assume the regression equation is \(\hat{y}=0.5+3.6 x\). This model would predict the Rental cost in county \(A\) to be 5 per square foot higher than the

rental cost in county B.

Record your answer with at least 3 decimal places.

Answer 1

Answer 2