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.

Family SqrFt Income Size Senior Education
1 2200 60.8 2 0 4
2 2300 68.4 3 1 6
3 3400 104.5 3 0 7
4 3360 89.3 4 1 0
5 3000 72.2 4 0 2
6 2900 114 3 1 10
7 4100 125.4 6 0 6
8 2520 83.6 3 0 8
9 4200 133 5 0 2
10 2800 95 3 0 6

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.RandR2adj are in percent values. Round your answers to 3 decimal places.)

step 1 2
constant ? ?
family size ? ?
t-statistic ? ?
p-value ? 0.012
income ?
t-statistic ?
p-value ?
s ? ?
R-Sq ? ?
R-Sq(adj) ? ?

b.Select all independent variables that should be in the final model.(You may select more than one answer. Single-click the box with the question mark to produce a check mark for a correct answer and double-click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

senior parent

square feet

family size

income

education

c.Write out the regression equation.

Square feet = ? + ? (family size) + ? income

d.Report and interpret the adjustedR2.

R2 ? %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Intermediate Algebra Functions & Authentic Applications

Authors: Jay Lehmann

5th Edition

0321923464, 9780321923462

More Books

Students also viewed these Mathematics questions

Question

What do you think you will bring to the organization?

Answered: 1 week ago