A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units, = 40 + 0.15 Size + 50 View,where Price = the price of a unit (in $1,000s),Size = the square footage (in sq.feet),View = 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 an ocean view unit with 1,500 square feet?
A) $315,000
B) $3,150,000
C) $265,000
D) $275,000

Question

A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units,  = 40 + 0.15 Size + 50 View,where Price = the price of a unit (in $1,000s),Size = the square footage (in sq.feet),View = 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 an ocean view unit with 1,500 square feet?
A) $315,000 
B) $3,150,000 
C) $265,000 
D) $275,000

Quizplus · Accepted Answer

The Answer of A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units,  = 40 + 0.15 Size + 50 View,where Price = the price of a unit (in $1,000s),Size = the square footage (in sq.feet),View = 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 an ocean view unit with 1,500 square feet?
A) $315,000 
B) $3,150,000 
C) $265,000 
D) $275,000

A Researcher Has Developed the Following Regression Equation to Predict