A regression line for predicting the selling prices of homes in Chicago is ModifyingAbove y with...
A regression line for predicting the selling prices of homes in Chicago is
ModifyingAbove y with caretyequals=168plus+102x,
where x is the square footage of the house. A house with 1500 square feet recently sold for $140,000. What is the residual for this observation?
Homework Answers
The regression equation: ŷ = 168 + 102x
The predicted price: ŷ = 168 + 102(1500) = 153168
The actual price: y = 140000
Thus, the residual for this observation
= Actual(y) - Predicted(ŷ)
= 140000 - 153168
= -13168
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A regression line for predicting the selling prices of homes in
Chicago is
ModifyingAbove y with...
A regression line for predicting the selling prices of homes in Chicago is
A regression line for predicting the selling prices of homes in Chicago is y 168 + 102x, where x is the square footage of the house. A house with 1500 square feet recently sold for $140,000. What is the residual for this observation?
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