Question
A real estate agent wishes to determine the selling price of residences using size (Square Feet) and whether the residence is a condominium or a
A real estate agent wishes to determine the selling price of residences using size (Square Feet) and whether the residence is a condominium or a single-family home. A sample of 20 residences was obtained with the following results:
Fit MLR to predict the selling price of residences Using square feet and Type of home. (Use dummy variable)
Is the relationship between selling price and square feet is different between condominium and single family home?
| Prices ($) | Square Feet | Type |
| 199700 | 1500 | Family |
| 211800 | 2085 | Condo |
| 197100 | 1450 | Family |
| 228400 | 1836 | Family |
| 215800 | 1730 | Family |
| 190900 | 1726 | Condo |
| 312200 | 2300 | Family |
| 313600 | 1650 | Condo |
| 239000 | 1950 | Family |
| 184400 | 1545 | Condo |
| 200600 | 1375 | Condo |
| 208000 | 1825 | Condo |
| 210500 | 1650 | Family |
| 233300 | 1960 | Family |
| 187200 | 1360 | Condo |
| 185200 | 1200 | Condo |
| 284100 | 2000 | Family |
| 207200 | 1755 | Family |
| 258200 | 1850 | Family |
| 203100 | 1630 | Family |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Elements Of Chemical Reaction Engineering
Authors: H. Fogler
6th Edition
013548622X, 978-0135486221
