A Researcher Has Developed the Following Regression Equation to Predict

question 66

Multiple Choice

A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units, = 40 + 0.15 Size + 50 View,where Price = the price of a unit (in $1,000s) ,Size = the square footage (in sq.feet) ,View = a dummy variable taking on 1 for an ocean view unit,and 0 for a bay view unit.Which of the following is the predicted price of an ocean view unit with 1,500 square feet?

• A) $315,000
• B) $3,150,000
• C) $265,000
• D) $275,000

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Definitions:

Rationalizing

Rationalizing involves justifying actions or decisions, often in a way that avoids the true reasons or excuses behaviors.

Long-Term Self-Interests

Long-term self-interests are goals or desires that an individual seeks to achieve over an extended period, considering future well-being and success.

Individualism

A moral, political, or social outlook that emphasizes the moral worth of the individual and the priority of personal independence and rights.

Ethical Standards

The criteria that guide the behavior of individuals and organizations, reflecting what is morally right and wrong.