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Exercise

Interpreting parallel slopes coefficients

For linear regression with a single numeric explanatory variable, there is an intercept coefficient and a slope coefficient. For linear regression with a single categorical explanatory variable, there is an intercept coefficient for each category.

In the "parallel slopes" case, where you have a numeric and a categorical explanatory variable, what do the coefficients mean?

taiwan_real_estate and mdl_price_vs_both are available.

Instructions 1/2

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Question

Look at the coefficients of mdl_price_vs_both. What is the meaning of the n_convenience coefficient?

Possible answers