The least-squares regression line Sˆ=0.5+1.1L models the relationship between the listing price and the actual sales price of 12
2 answers:
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The initial step is to analyze the graph's behavior.
It doesn’t follow a linear pattern, as the rate of change is inconsistent.
It also isn’t exponential since the change rate doesn't fluctuate significantly.
For this scenario, the most suitable regression model would be of the type:
Where,
a <0: This indicates that the parabola opens downwards.
Hence, the most appropriate regression model is quadratic.
Answer:
From visual analysis, the most fitting regression model for the data observed is:
A. Quadratic
It doesn’t follow a linear pattern, as the rate of change is inconsistent.
It also isn’t exponential since the change rate doesn't fluctuate significantly.
For this scenario, the most suitable regression model would be of the type:
Where,
a <0: This indicates that the parabola opens downwards.
Hence, the most appropriate regression model is quadratic.
Answer:
From visual analysis, the most fitting regression model for the data observed is:
A. Quadratic