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An article on the cost of housing in California that appeared in the San Luis Obispo Tribunet included the following statement: "In Northern California, people from the San Francisco Bay area pushed into the Central Valley, benefiting from home prices that dropped on average $4,000 for every mile traveled east of the Bay area." If this statement is correct, what is the slope of the least-squares line, ý = a + bx, where y = house price (in dollars) and x = distance east of the Bay (in miles)? Explain. This value is the change in the average home price, in dollars, for each increase of 1 mile in the distance east of the bay. O This value is the change in the average home price, in dollars, for each decrease of 1 mile in the distance east of the bay. O This value is the change in the distance east of the bay, in miles, for each decrease of $1 in average home price. O This value is the change in the distance east of the bay, in miles, for each increase of $1 in average home price.

An article on the cost of housing in California that appeared in the San Luis Obispo Tribunet included the following statement: "In Northern California, people from the San Francisco Bay area pushed into the Central Valley, benefiting from home prices that dropped on average $4,000 for every mile traveled east of the Bay area." If this statement is correct, what is the slope of the least-squares line, ý = a + bx, where y = house price (in dollars) and x = distance east of the Bay (in miles)? Explain. This value is the change in the average home price, in dollars, for each increase of 1 mile in the distance east of the bay. O This value is the change in the average home price, in dollars, for each decrease of 1 mile in the distance east of the bay. O This value is the change in the distance east of the bay, in miles, for each decrease of $1 in average home price. O This value is the change in the distance east of the bay, in miles, for each increase of $1 in average home price.

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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An article on the cost of housing in California that appeared in the San Luis Obispo Tribunet included the following statement: "In Northern California, people from the San Francisco Bay area pushed into the Central Valley, benefiting from home prices that dropped on average $4,000 for every mile traveled east of the Bay area." If this statement is correct, what is the slope of the least-squares line, ŷ = a + bx, where y = house price (in dollars) and x = distance east of the Bay (in miles)? Explain. ● This value is the change in the average home price, in dollars, for each increase of 1 mile in the distance east of the bay. O This value is the change in the average home price, in dollars, for each decrease of 1 mile in the distance east of the bay. O This value is the change in the distance east of the bay, in miles, for each decrease of $1 in average home price. O This value is the change in the distance east of the bay, in miles, for each increase of $1 in average home price.
Transcribed Image Text:An article on the cost of housing in California that appeared in the San Luis Obispo Tribunet included the following statement: "In Northern California, people from the San Francisco Bay area pushed into the Central Valley, benefiting from home prices that dropped on average $4,000 for every mile traveled east of the Bay area." If this statement is correct, what is the slope of the least-squares line, ŷ = a + bx, where y = house price (in dollars) and x = distance east of the Bay (in miles)? Explain. ● This value is the change in the average home price, in dollars, for each increase of 1 mile in the distance east of the bay. O This value is the change in the average home price, in dollars, for each decrease of 1 mile in the distance east of the bay. O This value is the change in the distance east of the bay, in miles, for each decrease of $1 in average home price. O This value is the change in the distance east of the bay, in miles, for each increase of $1 in average home price.
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