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What percentage of the variation in selling price of a house can be explained by the size of a house?

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The percentage of the variation in selling price of a house can be explained by the size of a house is 85%.

The cost a consumer pays to purchase a good or a commodity is known as the selling price. It is a price that is higher than the cost price and also includes a portion of the profit. The cost price is the amount paid by the seller for the good or service.

The selling price must enable a company to cover all product costs, cover operating costs, and turn a profit. Customers compare products side by side and allocate their funds based on selling price.

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