Real estate A random sample of records of sales of homes from February 15 to April 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 R-squared of 71.4%. The residuals plot indicated that a linear model is appropriate. a) What are the variables and units in this regression? b) What units does the slope have? c) Do you think the slope is positive or negative? Explain.
Exam 1: Study Guide Lecture 2: Rafia Chaudhary Statistics is the art and science of learning from data Individuals (also known as subjects, instances, and observations) are the things we get our data from. Who/what do we get our data from o These are often people, animals, or other living things but don’t need to be Variable: any characteristic or piece of information about an individual o Is an answer to a question, like how tall are you What’s your name etc. Ex: you are working for a drug company and you are developing a new drug to treat the common cold o Individuals: humans o Variables: measure of patient’s symptoms, time it takes f