Suppose that in a certain neighborhood, the cost of a home is proportional to the size of the home in square feet. If the regression equation…

Suppose that in a certain neighborhood, the cost of a home is proportional to the size of the home in square feet. If the regression equation quantifying this relationship is found to be (cost) = 77.888*(size) + 817.22, what does the slope indicate?

Question 21 options:

1) 

When size increases by 1 square foot, cost increases by 817.22 dollars.

2) 

When cost increases by 1 dollar, size increases by 77.888 square feet.

3) 

When size increases by 1 square foot, cost increases by 77.888 dollars.

4) 

We are not given the dataset, so we cannot make an interpretation.

5) 

When cost increases by 1 dollar, size increases by 817.22 square feet.

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