1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
seropon [69]
3 years ago
7

A regression analysis of 117 homes for sale produced the following​ model, where price is in thousands of dollars and size is in

square feet. ModifyingAbove Price with caretequals47.82plus0.064​(Size) ​a) Explain what the slope of the line says about housing prices and house size. ​b) What price would you predict for a 2500​-square-foot house in this​ market? ​c) A real estate agent shows a potential buyer a 1100​-square-foot ​house, saying that the asking price is ​$5500 less than what one would expect to pay for a house of this size. What is the asking​ price, and what is the ​$5500 ​called?
Business
1 answer:
andriy [413]3 years ago
4 0

Answer:

a) Price is linearly dependent on size of home

b) asking price= $110,570

$5500 is spread

Explanation:

Price = 47.87+0.062(size)

a) the equation follows y=mx+c or linear equation model

b) asking price is the offer price or the price the seller says he/she will accept for his/her property

Price= 47.87 +0.062(1100)

Price= 116.07 × 1000

Asking price= 116070-5500

                    = $110,570

5500 is the spread between asking prcce and bid price. It tells about the market maker's or agent's profit.

You might be interested in
________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single se
Lyrx [107]

Answer: Systems selling

Explanation:

 The system selling is one of the type of business strategy that helps in understanding the selling process by sell he various types of products an the services in the market in the interrelated manner rather than independently.

According to the given question, the system selling is the concept in which the business deliver the goods by using the interlocking and also consolidating the products from the supplier.

 Therefore, System selling is the correct answer.

6 0
3 years ago
Session Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho
Fofino [41]

Answer:

$6,765

Explanation:

The total cost for job K913 is given by the sum of the costs with manufacturing overhead (fixed and variable), direct materials (M) and direct labor (L).

Since the company uses a predetermined overhead rate based on direct labor-hours, the overhead cost for job K913 is:

O = F+V\\O=\frac{150*\$511,000}{70,000} +150*\$2.10\\O=\$1,410

The total cost for the job is:

C=O+M+L\\C=\$1,410+\$705+\$4,650\\C=\$6,765

The total job cost for Job K913 is closest to $6,765.

8 0
3 years ago
What are the 3 documents mortgage lenders are required to give you by law?
Paul [167]

Answer: The Loan Estimate, The Closing Disclosure, and The Notice of the Right to Rescind

Explanation:

4 0
3 years ago
A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office bu
elena55 [62]

Answer:

Cost of land= 564,500

Explanation:

Cost of land = Purchase price - Salvage + Demolition cost + Land preparation

= 540,000 - 22,000 + 39,000 + 7,500

= 564,500

5 0
3 years ago
A community college might grant all of the following degress except
klio [65]
I would say a technical program certificate, i hope i helped, have an amazing day :)
3 0
3 years ago
Read 2 more answers
Other questions:
  • What is one way GDP could be measured?
    7·1 answer
  • List four decision making techniques
    9·1 answer
  • Taylor loves the lifestyle associated with being a salesperson, allowing her to take a day off during the week and make it up on
    6·1 answer
  • A. property rights are closely linked to the degree with which individuals use their entrepreneurial skills.
    14·1 answer
  • A 4-year project has an annual operating cash flow of $49,000. At the beginning of the project, $4,000 in net working capital wa
    11·1 answer
  • A state police force has set a height requirement of 5 feet 10 inches for all officers. this requirement is irrelevant to job ef
    8·2 answers
  • All of the following are true except:___________
    7·1 answer
  • Indiana Co. began a construction project in 2021 with a contract price of $161 million to be received when the project is comple
    10·1 answer
  • When microwaves were new, they typically cost over $300, were bulky and required extensive counter space, and had limited styles
    12·1 answer
  • The material wealth of a society is a function of? all financial assets. all real assets. all financial and real assets. all phy
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!