Question

Your friend gives you a simple regression fit for predicting house prices from square feet. the estimated intercept is –44850 and the estimated slope is 280.76. you believe that your housing market behaves very similarly, but houses are measured in square meters. to make predictions for inputs in square meters, what slope must you use? (there are 0.092903 square meters in 1 square foot).

Answer 1

Answer:

  3022.08 . . . dollars per square meter

Step-by-step explanation:

The slope is multiplied by the factor that changes units:

  (280.76 dollars/ft²)×(1 ft²)/(.092303 m²) ≈ 3022.08 dollars/m²