The Basic Practice of Statistics 7th Edition

Published by W. H. Freeman
ISBN 10: 146414253X
ISBN 13: 978-1-46414-253-6

Chapter 26 - Inference for Regression - Check Your Skills - Page 636: 26.18

Answer

(b)

Work Step by Step

The slope $\beta$ tells us the average increase in the response variable in the population when the explanatory variable increases by $1$ unit. Here the response variable is the selling price and the explanatory variable is the appraised value, thus the answer is (b).
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