A Real Estate Appraiser Is Developing a Regression Model to Predict

question 65

Multiple Choice

A real estate appraiser is developing a regression model to predict the market value of single-family residential houses as a function of heated area, number of bedrooms, number of bathrooms, age of the house, and central heating (yes, no) .The response variable in this model is _______.

• A)heated area
• B)number of bedrooms
• C)market value
• D)central heating
• E)residential houses

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Definitions:

Cost Concept

An accounting principle that states assets and services should be recorded and based on their original cost at the time of acquisition.

Unit of Measure Concept

An accounting principle that states transactions should be recorded in a single, consistent currency unit for accuracy and comparability.

Objectivity Concept

A concept of accounting that requires accounting records and the data reported in financial statements to be based on objective evidence.

American Red Cross

A humanitarian organization that provides emergency assistance, disaster relief, and education within the United States.