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Suppose someone is building a model to predict the sales price of a house and they would like to include a variable to indicate whether or not the house has a pool. Which of the following could be used to model that variable.
Use 0 if there is no pool and 1 if there is one.

Respuesta :

Be used to model that variable, use 0 if there is no pool, and use 1 if there is one. There are three fundamental factors: controlled variables, a dependent variable, and an independent variable.

Which model would we use to estimate the cost of a 2700-square-foot house?

single variable regression model We should use a single variable regression model because we only have data about one independent variable. The house size is the sole independent variable in this single-variable linear regression model.

Which formula best predicts the cost of a home?

The Residual Sum of Squares (RSS) approach is the most widely used one. The difference between the observed data's actual value and its vertical distance from the suggested best-fitting line (predicted value) is calculated using this approach.

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Full Question = Suppose someone is building a model to predict the sales price of a house and they would like to include a variable to indicate whether or not the house has a pool. Which of the following could be used to model that variable.