Final answer:
The regression model explains 44 percent of the variation in sample values of price, while 56 percent of the variation is not explained by the model.
Step-by-step explanation:
The question asks how much variation in sample values of price is explained by a regression model. This is generally quantified by the coefficient of determination, R-squared (R²), which is the proportion of the variance for the dependent variable that's explained by the independent variables in a regression model.
In the information provided, if part (b) refers to a model where R² is 0.44, as suggested by the 'Therefore' statement, it means that the model explains 44 percent of the variation in the dependent variable. Conversely, the rest of the variation, which is 56 percent (1 - 0.44), cannot be explained by the model and represents the amount of variation that's due to factors not included in the model.