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.

Question

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

Possible answers

The mean number of nearby convenience stores is 0.79.

For a house with zero nearby convenience stores, the expected house price is 0.79 TWD per square meter.

For each additional nearby convenience store, the expected house price, in TWD per square meter, increases by 0.79.

For each additional 0.79 nearby conveniences stores, the expected house price increases by 1 TWD per square meter.

Exercise

Interpreting parallel slopes coefficients

Instructions 1/2

Question

Possible answers