Housing units

Variables often have units: age is in years, price is in dollars or euros or renminbi, etc. In the Houses_for_sale data, the unit for price is dollars, for land_value it's also dollars, and for living_area it's square feet. fireplaces is a pure number, without units.

In this exercise, you'll find the units of effect sizes. For quantitative explanatory variables, effect sizes always have the unit of the response variable divided by the unit of the explanatory variable.

Using the Houses_for_sale data, build an lm() model of house price versus living_area, land_value, and fireplaces (all together).

Which of these statements is true?

Possible Answers

The effect size of land_value is near 1 dollar.
The effect size of land_value is near 1 dollars per dollar.
The effect size of fireplaces is 8100 fireplaces per dollar.
The effect size of living_area is about 87 square dollars per foot.

Exercise

Housing units

Instructions

Possible Answers