A statistical model for appraisal value of houses is needed

Reference no: EM13619791

A statistical model for appraisal value of houses is needed. An important predictor variable of appraised value is the number of rooms in any house; y = appraised value of the house (in thousands of dollars) and x = number of rooms in the house. For a sample of n = 91 houses, the following results were obtained: ^y = 91.80 + 19.72x.

What are the properties of the least squares line shown above?

A. average error of prediciton is 0, and SSE is a minimum

B. it will always be a statistically useful predictor of y

C. average error of prediction is 0, and SSE is a maximum

D. it is normal, mean 0, constant variance, and independent

Reference no: EM13619791

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