Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible

A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, 0 for no), and the total years of education beyond high school for the husband and wife. The sample information is reported below.

FamilySqrFtIncomeSizeSeniorEducation
1224060.8204
2238068.4216
33400104.5307
4336089.3410
5300072.2402
629001143110
74100125.4606
8252083.6308
94200133502
10280095306

a. Develop an appropriate multiple regression equation using stepwise regression. (Use Excel data analysis and enter number of family members first, then their income and delete any insignificant variables. Leave no cells blank - be certain to enter "0" wherever required. R and R2 adj are in percent values. Round your answers to 3 decimal places.)

image text in transcribed
Step 2 Constant Family Size t-statistic p-value Income t-statistic p-value S R-Sq R-Sq(adj)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

9781285586618

Students also viewed these Mathematics questions