A realtor wants to examine the relationship between the selling price of a house and its size (measured in square feet). Below is a sample of 15 randomly selected properties in a neighbourhood, where Selling Price is listed in $1,000s and Square Footage is listed in 100's.

Which of the following best defines what 3} and a: are in the estimated regression equation? 0 3} is the predicted value for square footage of the house (in 100's) and a: is the selling price (in $1,000's) O 3;} is the predicted value for the selling price (in $1,000's} and a: is the square footage of the house (in 100's) 0 3} is the precise value for square footage of the house {in 100's) and m is the selling price (in $1,000's] 0 is the precise value for the selling price {in $19003] and a? is the square footage of the house [in 100's] For the estimated regression equation [3} = a I 53:], what is the value for "a" a 2 [Answer to 3 decimal places] For the estimated regression equation [11} = a | ha), what is the value far "b" b 2 {Answer to 3 decimal places) i: For every LVV additional square feet In a nouse, one predicts we selling price will increase by $27.48 For every additional $1,000 in selling price, one predicts the house will have an additional 2,747 square feet. For every additional $1 in selling price, one predicts the house will have an additional 623 square feet. For every 100 additional square feet in a house, one predicts the selling price will increase by $27,475 For every additional $1,000 in selling price, one predicts the house will have an additional 27.5 square feet. For every 100 additional square feet in a house, one predicts the selling price will increase by $623.40What is the meaning of the INTERCEPT in the estimated regression equation? 0 We cannot make a valuable interpretation of the intercept as it is outside the range of values included in this regression. Q If a house has 0 square feet, we expect it to cost $29,475 lie. the land with no house on it will cost $21475) Q There are no properties that cost less than $623,398 0 If a house has 0 square feet, we expect it to cost $623,398 (Le. the land with no house on it will cost $623,398} 0 If a house has 0 square feet, it will cost $0. You are interested in purchasing a house in this neighbourhood. The house is 1900 square feet and listed as $1,325,000. Should you make an offer at the list price of $1,325,000, below the list price of $1,325,000, or for more than the list price of $1,325,000? (Make the bid with your head, not your heart) Q 0 Bid more than $1,325,000 0 Bid below $1,325,000 0 Bid exactiy $1,325,000