A realtor is interested in assessing the impact of size (in square feet) and distance from the

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A realtor is interested in assessing the impact of size (in square feet) and distance from the center of town (in miles) on the value of homes (in thousands of dollars) in a certain area. Nine randomly chosen houses are selected; data are as follows.

Y (value): 345, 238, 452, 422, 328, 375, 660, 466, 290

X1 (size): 1,650, 1,870, 2,230, 1,740, 1,900, 2,000, 3,200, 1,860, 1,230

X2 (distance): 3.5, 0.5, 1.5, 4.5, 1.8, 0.1, 3.4, 3.0, 1.0

Compute the estimated regression coefficients, and explain their meaning.

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Complete Business Statistics

ISBN: 9780077239695

7th Edition

Authors: Amir Aczel, Jayavel Sounderpandian

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