Question

Housing Price.The file calledsaratoga.JMPcontains data on 1728 houses in Saratoga, NewYork in the year 2006. The dataset includes many features of houses such as the selling price($), total living area (square feet), age (years), value of the land ($1000) the house was buildon, number of bedrooms and bathroom. We want to predict the selling price of a house ($)based on the total living area.(a) Identify the response variable (y): (Choose one.)i. total priceof all houses in the U.S.ii. average priceof houses in the U.S.iii. priceof a house in Saratoga, N.Y.

Answer 1

iii. priceof a house in Saratoga, N.Y.

Explanation:

In this question, we take a sample from house prices of 1728 houses in Saratoga, New York.

Since only houses from Saratoga are part of the sample, the response variable will be related only to Saratoga.

In this question:

Sample to find house prices in Saratoga, which is the variable of interest. The correct answer is given by option iii.