3. Using data on the appraised value of homes, a real estate agent computes the least- squares regression line for predicting a home's value in 2002 from its value in 1992. The equation of th...
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shows? 3. Using data on the appraised value of homes, a real estate agent computes the least- squares regression line for predicting a home's value in 2002 from its value in 1992. The equation of the least-squares regression line is: where y represents a home's value in 2002 and x is the value in 1992. $44,000+1.8x y Question: Explain y, $22,000, 1.6 and x separately? Suppose Julia owns a home that was worth $100,000 in 1992....
Using data on the appraised values of homes, a real estate agent computes the least squares regression line for predicting a home's value in the year 2010 (y) from its value in 2000 (x). The Equation of the regression line is y=$22,000 + 1.6x 1. By how much does a home's 2010 value change for each $1 increase in the home's 2000 value? 2. If we were to use the regression line to predict the home's value in the year...