Jeffrey is a real estate agent who wishes to study the relationship between the selling price of a house and its size (measured in feet) in Manhattan. He develops a simple linear regression model as seen below. What is the slope of the model? Houseprice = 95.5 + 0.25 (square feet) + 13

Question

Quizplus · Accepted Answer

The slope of the above model is 0.25.
Key Takeaway: A simple linear regression model contains three components: intercept, slope, and error term. The slope of the model is multiplied by the independent variable (size of the house) in the equation in order to calculate the dependent variable (house price).

Jeffrey Is a Real Estate Agent Who Wishes to Study