Reference no: EM132195905

Suppose that in a certain neighborhood, the cost of a home is proportional to the size of the home in square feet. If the regression equation quantifying this relationship is found to be (cost) = 77.888*(size) + 817.22, what does the slope indicate?

1) When size increases by 1 square foot, cost increases by 817.22 dollars.

2) When cost increases by 1 dollar, size increases by 77.888 square feet.

3) When size increases by 1 square foot, cost increases by 77.888 dollars.

4) We are not given the dataset, so we cannot make an interpretation.

5) When cost increases by 1 dollar, size increases by 817.22 square feet.