SOLUTION: A real estate analyst has developed a multiple regression line, y = 60 + 0.068 x1 - 2.5 x2, to predict y = the market price of a home (in $1,000s), using two independent variable

Question 1150469: A real estate analyst has developed a multiple regression line, y = 60 + 0.068 x1 - 2.5 x2, to predict y = the market price of a home (in $1,000s), using two independent variables, x1 = the total number of square feet of living space, and x2 = the age of the house in years. With this regression model, the predicted price of a 10-year old home with 2,500 square feet of living area is __________.
A)$200,000.00
B)$205.00
C)$255,000.00
D)$205,000.00

Answer by greenestamps(13209) (Show Source): You can put this solution on YOUR website!

Plug in the numbers and do the calculation....

y (thousands) = 60 + 0.068(2500) - 2.5(10)

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