The accompanying table shows a portion of data that refers to the property taxes owed by a homeowner (in $) and the size of the home (in square feet) in an affluent suburb 30 miles outside New York City. Click here for the Excel Data File Taxes Size 21,987 2,403 17,353 2,451 29,238 2,866 a. Estimate the sample regression equation that enables us to predict property Taxes on the basis of the size of the home. (Round your answers to 2 decimal places.) Taxes = + Size. b. Interpret the slope coefficient. O As Property Taxes increase by 1 dollar, the size of the house increases by 6.71 ft. O As Size increases by 1 square foot, the property taxes are predicted to increase by $6.71. c. Predict the property Taxes for a 1,400-square-foot home. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.) Taxes
The accompanying table shows a portion of data that refers to the property taxes owed by a homeowner (in $) and the size of the home (in square feet) in an affluent suburb 30 miles outside New York City. Click here for the Excel Data File Taxes Size 21,987 2,403 17,353 2,451 29,238 2,866 a. Estimate the sample regression equation that enables us to predict property Taxes on the basis of the size of the home. (Round your answers to 2 decimal places.) Taxes = + Size. b. Interpret the slope coefficient. O As Property Taxes increase by 1 dollar, the size of the house increases by 6.71 ft. O As Size increases by 1 square foot, the property taxes are predicted to increase by $6.71. c. Predict the property Taxes for a 1,400-square-foot home. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.) Taxes
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 4SGR
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Transcribed Image Text:The accompanying table shows a portion of data that refers to the property taxes owed by a homeowner (in $) and
the size of the home (in square feet) in an affluent suburb 30 miles outside New York City.
Click here for the Excel Data File
Taxes
Size
21,987
2,403
17,353
2,451
29,238
2,866
a. Estimate the sample regression equation that enables us to predict property Taxes on the basis of the size of the
home. (Round your answers to 2 decimal places.)
Taxes =
+
Size.
b. Interpret the slope coefficient.
O As Property Taxes increase by 1 dollar, the size of the house increases by 6.71 ft.
O As Size increases by 1 square foot, the property taxes are predicted to increase by $6.71.
c. Predict the property Taxes for a 1,400-square-foot home. (Round coefficient estimates to at least 4 decimal
places and final answer to 2 decimal places.)
Taxes
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