Housing Prices II Refer to Exercise 12.42and data set EX1242.a. Estimate the average
Chapter 12, Problem 43(choose chapter or problem)
Housing Prices II Refer to Exercise 12.42and data set EX1242.a. Estimate the average increase in the price for anincrease of 1 square foot for houses sold in the city.Use a 99% confidence interval. Interpret your estimate.b. A real estate salesperson needs to estimate the averagesales price of houses with a total of 2000 squarefeet of heated space. Use a 95% confidence intervaland interpret your estimate.c. Calculate the price per square foot for each houseand then calculate the sample mean. Why is thisestimate of the average cost per square foot notequal to the answer in part a? Should it be? Explain.d. Suppose that a house with 1780 square feet ofheated floor space is offered for sale. Construct a95% prediction interval for the price at which thehouse will sell.
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