Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Consider the following multiple regression sic: = 118.5 + 0.4OSBDR + 23.7Bath + 0.196Hslze + 0.004Lsize + 0.118Age 47.1Poor. R2 = 0.75, SER = 40.3
Consider the following multiple regression sic: = 118.5 + 0.4OSBDR + 23.7Bath + 0.196Hslze + 0.004Lsize + 0.118Age 47.1Poor. R2 = 0.75, SER = 40.3 (24.7) (2.59) (8.69) (0.012) (0.00057) (0.381) (10.4) The numbers in parentheses below each estimated coefcient are the estimated standard errors. A detailed description of the variables used in the data set is available here a . Suppose you wanted to test the hypothesis that BDR equals zero. That is, H0: BDR=O vs H1: BDRO Report the tstatistic for this test. The tstatistic is 0.156 (Round your response to three decimal places) Is the coefcient on BDR statistically different from zero at the 5% significance level? Yes. V No. Typically fivebedroom houses sell for much more than two-bedroom houses. Is this consistent with your previous answer and with the regression more generally? " Yes. No. A homeowner purchases 2067 square feet from and adjacent lot. Construct a 95% condence interval for the change in the value of her house. The 95% condence interval for the change in the value of the home is [D, El] (Round your response to two decimal places) Lot size is measured in square feet. Do you think that measuring lot size in thousands of square feet might be more appropriate? O A. Yes, because small differences in square footage between two houses is not likely to have a significant effect on differences in house prices. O B. No, because changing the units in which lot size is measured will likely render the estimated coefficient insignificant. O C. No, because small differences in square footage between two houses likely have a significant effect on differences in house prices. O D. Yes, because changing the units in which lot size is measured will likely make the estimated coefficient more significant. The F-statistic from the joint test of BDR and Age is F = 0.09. Are the coefficients on BDR and Age statistically different from zero at the 10% level? O A. Yes. O B. No.Variable Definitions Variable Definition BDR Number of bedrooms. Bath Number of bathrooms. Hsize Size of the house in square feet. Lsize Size of the lot in square feet Age Age of the house in years. Poor Binary variable (1 if the condition of the house is reported as "poor", o otherwise)
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