Exhibit 17.1.A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units, , where
Price = the price of a unit (in $thousands),
Size = the square footage (in square feet),
View = a dummy variable taking on 1 for an ocean view unit,and 0 for a bay view unit.
Refer to Exhibit 17.1.What is the predicted price of an ocean view unit with 1500 square feet?
A)$315,000
B)$3,150,000
C)$265,000
D)$275,000

Question

Exhibit 17.1.A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units,  , where
Price = the price of a unit (in $thousands),
Size = the square footage (in square feet),
View = a dummy variable taking on 1 for an ocean view unit,and 0 for a bay view unit.
Refer to Exhibit 17.1.What is the predicted price of an ocean view unit with 1500 square feet?
A)$315,000 
B)$3,150,000 
C)$265,000 
D)$275,000

Quizplus · Accepted Answer

The Answer of Exhibit 17.1.A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units,  , where
Price = the price of a unit (in $thousands),
Size = the square footage (in square feet),
View = a dummy variable taking on 1 for an ocean view unit,and 0 for a bay view unit.
Refer to Exhibit 17.1.What is the predicted price of an ocean view unit with 1500 square feet?
A)$315,000 
B)$3,150,000 
C)$265,000 
D)$275,000