A real estate company wants to study the relationship between house sales prices and some important predictors of sales prices. Based on data from recently sold homes in the area, the variables sales price (in thousands of dollars) total floor area (in square feet) number of bedrooms distance to nearest high school (in miles) are used in a multiple regression model. The estimated model is. Answer the folowing questions for the interpretation of the coefficient of in this model.

Question

Mathematics

Hailey Middleton

20 January, 07:09

A real estate company wants to study the relationship between house sales prices and some important predictors of sales prices. Based on data from recently sold homes in the area, the variables sales price (in thousands of dollars) total floor area (in square feet) number of bedrooms distance to nearest high school (in miles) are used in a multiple regression model. The estimated model is. Answer the folowing questions for the interpretation of the coefficient of in this model.

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Answers (1)

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Beckham Gross · Answer 1

The overview of the specific problem is outlined in the following section of the explanation.

Step-by-step explanation:

The Regression model is being used for finding as well as determining a connection or partnership of involvement among both your factor as well as some other variables. This type of equation is itself proving to be an improvement. Keeping some other factors constant, the average increase in selling price becomes 21 thousand dollars within each incremental bedroom in such a building.

So that the above is the right answer.