Question

The least-squares regression line Sˆ=0.5+1.1L models the relationship between the listing price and the actual sales price of 12 houses, with both amounts given in hundred-thousands of dollars. Let L represent the listing price and S represent the sales price.

Answer 1

Answer:

For each hundred-thousand-dollar increase in the listing price, the sales price is predicted to increase by $110,000.

Step-by-step explanation:

The sales price is not predicted to increase by $1.1; it is predicted to increase by $110,000 because S is measured in hundred-thousands of dollars. The sales price will not decrease by $110,000; it is predicted to increase by $110,000.

Answer 2

Answer:

For each hundred-thousand-dollar increase in the listing price, the sales price is predicted to increase by $110,000.

Step-by-step explanation:

went over it in class