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 and size (in square feet) of 117 homes. a regression to predict price (in thousands of dollars) from size has an r² of 71.4%. the residuals plot indicated that a linear model is appropriate. complete parts a through c below.
a) what are the variables and units in this regression?
○ a. price (in dollars) is y and size (in square feet) 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. size (in square feet) is y and price (in thousands of dollars) is x.

Explanation:

In a regression model to predict Price from Size, Price is the dependent variable (y) and Size is the independent variable (x). The problem states that Price is in thousands of dollars and Size is in square feet.

Answer:

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