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A house in a nearby neighborhood has 3 bedrooms and 1000 square feet of living area. Use the following multiple regression model to answer parts
A house in a nearby neighborhood has 3 bedrooms and 1000 square feet of living area. Use the following multiple regression model to answer parts a through 0 below. in}; = 19,020.25 8392.73Bedrooms + 78.17Living Area a) Find the price that this model estimates. $ (Round to the nearest dollar as needed.) b) The house just sold for $90,000. Find the residual corresponding to this house. $ (Round to the nearest dollar as needed.) c) What does that residual say about this transaction? 0 A. The house sold for about $18,000 less than the estimate. 0 B. The house sold for about $54,000 less than the estimate. 0 C. The house sold for about $18,000 more than the estimate. 0 D. The house sold for about $54,000 more than the estimate
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