Safari File Edit View History Bookmarks Develop Window Help 018 SP MATH 1680-032

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Safari File Edit View History Bookmarks Develop Window Help 018 SP MATH 1680-032 (INET Test: Test 2 This Question: 1 pt mathxl.com Time Remaining: 00:44:01 Submit Tes 35 of 40 (16 complete)This Test: 40 pts possib A county real estate appraiser wants to develop a statistical model to predict the appraised value of houses in a section of the county called East Meadow. One of the many variables thought to be an important predictor of appraised value is the number of rooms in the house. Consequently, the appraiser decided to fit the simple linear regression model, y . Po + ß1 x, where y appraised value of the house (in Sthousands) and x-number of rooms. Using data collected for a sample of n 74 houses in East Meadow, the accompanying results were obtained. Give a practical interpretation of the estimate of the y-intercept of the least squares line. Click the icon to view the results. O A. For each additional room in the house, the appraised value is expected to increase $74,800. 0 B. For each additional room in the house, the appraised value is expected to increase S 19,720. O C. There is no practical interpretation, since a house with 0 rooms is nonsensical. O D. The base appraised value for any house is estimated to be $74,800. Simple linear regreston results y-74.80+19.72x 8p=71.24, t= 1.05 (for testing Po) sp" 2.63, t-749 (for testing 1 ) SSE = 60.775, MSE-84 1, s-29.? #044 Range of the x- values: 5-11 Range of the y-values: 160 - 300 Click to select your a 24

Explanation / Answer

Correct option:
D.    The bas eappraised value for any houseis estimated to be $74,800.

EXPLANATION: In a Regression line, the intercept is the mean value of Y when all X = 0. Here, intercept = 74.80.

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