Using data on the appraised value of homes, a real estate agent computes the lea

Question

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 y= $22,000 + 1.6x where y represents a home's value in 2002 and x is the value in 1992. The least-squares regression line is the line that makes the sum of the squares of the vertical distances of the data points from the line as small as possible. O the line that makes the square of the correlation in the data as large as possible. All of the above. the line that best splits the data in half, with half of the points above the line and half below the line

Explanation / Answer

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 y= $22,000 + 1.6x where y represents a home's value in 2002 and x is the value in 1992. The least-squares regression line is the line that makes the sum of the squares of the vertical distances of the data points from the line as small as possible. O the line that makes the square of the correlation in the data as large as possible. All of the above. the line that best splits the data in half, with half of the points above the line and half below the line

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