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Suppose that in a certain neighborhood. the cost of a home {in thousands} is proportional to the size of the heme in square feet. The
Suppose that in a certain neighborhood. the cost of a home {in thousands} is proportional to the size of the heme in square feet. The regression equation quantifying this relationship is found to he {price}! = 3.342'lsize} + 32.413. You look more closely at one of the houses selected. The house is listed as having 221533315 square feet and is listed at a price of $135.63? {thousand}. The residual is -22.335. Interpret this residual in terms of the problem. 0 1i The square footage is 22.335 square feet larger than what we would expect. 0 2: The price of the house is 22.335 thousand dollars greater than what we would expect. 0 3i The square footage is 22.335 square feet less than what we would expect. 0 .1: The price of the house is 135.6159 thousand dollars less than what we would expect. The price of the house is 22.335 thousand dollars less than what we would 0 51 expect
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