Question
A realtor in a suburb outside of Chicago is analyzing the relationship between the sale price of a home (Price in $), its square footage
A realtor in a suburb outside of Chicago is analyzing the relationship between the sale price of a home (Price in $), its square footage (Sqft), the number of bedrooms (Beds), and the number of bathrooms (Baths). She collects data on 36 recent sales. A portion of the data is shown in the accompanying table.
Price | Sqft | Beds | Baths |
672000 | 2214 | 3 | 3 |
822000 | 2500 | 4 | 2.5 |
713000 | 2400 | 3 | 3 |
751636 | 2400 | 4 | 2 |
737692 | 2925 | 4 | 3 |
645000 | 2524 | 3 | 2 |
432692 | 1891 | 3 | 1.5 |
454667 | 1786 | 3 | 2.5 |
587500 | 2100 | 3 | 1.5 |
585000 | 1947 | 3 | 1.5 |
583000 | 2224 | 3 | 2.5 |
569000 | 3262 | 4 | 2 |
764400 | 2509 | 4 | 3 |
540000 | 1488 | 3 | 1.5 |
732273 | 3964 | 4 | 3.5 |
516000 | 1951 | 4 | 2 |
738111 | 2531 | 4 | 2.5 |
714000 | 2418 | 4 | 3 |
693000 | 2369 | 4 | 3 |
463000 | 1714 | 3 | 2 |
639800 | 2310 | 4 | 3 |
451000 | 1685 | 3 | 2 |
435000 | 1500 | 3 | 1.5 |
431700 | 1896 | 2 | 1.5 |
414000 | 1182 | 2 | 1.5 |
602250 | 1728 | 4 | 2 |
319200 | 1106 | 3 | 1 |
253333 | 896 | 3 | 1 |
285000 | 954 | 2 | 1 |
375900 | 2275 | 5 | 1 |
372000 | 1005 | 2 | 1 |
275625 | 954 | 2 | 1 |
356500 | 1431 | 2 | 2 |
247500 | 1022 | 2 | 1 |
330000 | 1465 | 3 | 1 |
461250 | 1275 | 2 | 1 |
a.) Estimate the model Price = 0 + 1Sqft + 2Beds + 3Baths + . (Round Coefficients to 2 decimal places.)
b.) Predict the Price of a 2,423 square-foot home with three bedrooms and two bathrooms. (Do not round intermediate calculations. Round your final answer to the nearest whole number.)
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