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(b) Fit and summarize a multiple regression that estimates the fixed and marginal costs for both types of homes, allowing differences in both of these.
(b) Fit and summarize a multiple regression that estimates the fixed and marginal costs for both types of homes, allowing differences in both of these. Model with a dummy variable indicating properties that are not condos (let 0 correspond to Condo = "Yes" and 1 correspond to Condo = "No"). Complete the table of values for the model Term Estimate to the right. Intercept 1/Sq Ft Condo Dummy Dummy x 1/Sq Ft (Round to two decimal places as needed.)The data table found below contains information about the prices and sizes of 112 homes for sale in an area. The data include a categorical variable Condo (coded as yes or no) which indicates whether the home is a condominium. In a model of the price per square foot in thousands of dollars using the reciprocal of the number of square feet as the explanatory variable, the intercept estimates the variable cost per square foot and the slope of 1/Sq Ft estimates the xed costs present regardless of the size of the home. Complete parts a through e below. 5 Click the icon to view the data table
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