Question

a random sample of records of home sales from feb. 15 to apr. 30, 1993, from the files maintained by the albuquerque board of realtors gives the price (in thousands of dollars) and size (in square feet) of 117 homes. a regression to predict price (in thousands of dollars) from size has an r - squared of 71.4%. the residuals plot indicated that a linear model is appropriate. complete parts a) what are the variables and units in this regression? a. size (in square feet) is y and price (in thousands of dollars) is x. b. price (in dollars) is y and number of houses is x. c. price (in thousands of dollars) is y and size (in square feet) is x. d. price (in dollars) is y and size (in square feet) is x.

Explanation:

Step1: Identify variables in regression

In a regression context, the independent variable (explanatory variable) is typically denoted as \(x\) and the dependent variable (response variable) as \(y\). Here, the size of the house (in square - feet) is used to predict the price of the house. So, the size of the house is the independent variable \(x\) and the price of the house is the dependent variable \(y\). The price is in thousands of dollars.

Answer:

B. Price (in thousands of dollars) is \(y\) and Size (in square feet) is \(x\)