Do the sales prices of houses in a given community vary systematically with their sizes (as measured
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Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)? Answer this question by estimating a simple regression equation where the sales price of the house is the dependent variable, and the size of the house is the explanatory variable. Use the sample data given in P14_06.xlsx. Interpret your estimated equation, the associated R-square value, and the associated standard error of estimate.
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House Price Home Size Lot Size Number Rooms Number Baths 1 72000 600 050 3 10 2 116300 1050 043 5 15 3 152000 1800 068 7 15 4 80500 922 030 5 10 5 141900 1950 075 8 25 6 124000 1783 022 8 15 7 117000 ...View the full answer
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Related Book For
Practical Management Science
ISBN: 978-1305250901
5th edition
Authors: Wayne L. Winston, Christian Albright
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