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Q. 23

Expert-verifiedFound in: Page 764

Book edition
4th

Author(s)
David Moore,Daren Starnes,Dan Yates

Pages
809 pages

ISBN
9781319113339

The slope $\beta $ of the population regression line describes

(a) the exact increase in the selling price of an individual unit when its appraised value increases by $\$1000$

(b) the average increase in the appraised value in a population of units when the selling price increases by $51000.

(c) the average increase in selling price in a population of units when the appraised value increases by $ 1000.

(d) the average selling price in a population of units when a unit's appraised value is 0.

(e) the average increase in appraised value in a sample of 16 units when the selling price increases by $ 1000.

(c) the average increase in selling price in a population of units when the appraised value increases by $ 1000.

Need to find the slope of the population regression.

In general: The slope of the population regression line is the average increase of y as x increases by 1.

Since y is the actual selling price in thousands of dollars and x is the appraised market value in thousands of dollars, the correct answer then has to be (c).

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