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Apps C O wwwawebassign.net/weblStudent/Assignment Responses/submit?dep 15199549 For quick access, place your bookmarks here on the bookmarks bar, import bookmarks now O -4 points PeckDevstat7 13 E 005. suppose that a simple linear regression model is appropriate for describing the relationship between y house price and x house slze (sa ft) for houses in a large city. The true regression line is y 22,000 and o 4000. (a) what is the average change in price associated with one extra sq of space? With an additional 100 sq ft of space? (b) what proportion of 1800 sq ft homes would be priced over $100,000? (Round your answer to four decimal places.) Under $90,000? (Round your answer to four decimal places.) You may need to use the appropriate table in Appendix A to answer this question. Submit Assignment Save Assignment Progress Home My Assignments Maas 1517 Module s seesion 1 l...dock Mondeo 5 Sesilen 2 dice

Explanation / Answer

a)average change =41

for 100 sq feet =41*100=4100

b)for 1800 sq feet mean =22000+41*1800=95800

hence P(X>100000)=1-P(X<100000)=1-P(Z<(100000-95800)/4000)=1-P(Z<1.05)=1-0.8531=0.1469

c)P(X<90000)=P(Z<-1.45)=0.0735

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