A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units, 
= 40 + 0.15Size + 50View, where Price is the price of a unit (in $1,000s) , Size is the square footage (in sq. feet) , and View is a dummy variable taking on 1 for an ocean view unit and 0 for a bay view unit. Which of the following is the predicted price of a bay view unit measuring 1,500 square feet?
A) $315,000
B) $50,000
C) $265,000
D) $40,000
Correct Answer:
Verified
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