Question
Explore the relationship between the selling prices (Y) and the appraised values (X) of the 148 homes in the file that I attached by estimating
Explore the relationship between the selling prices (Y) and the appraised values (X) of the 148 homes in the file that I attached by estimating a simple lin- ear regression model. Interpret the standard error of estimate se and R2 and the least squares line for these data. I can send the excel file via email. If any tutor has willing to help me, please leave a reply or message please.
a. Is there evidence of a linear relationship between the selling price and appraised value?
If so, characterize the relationship. Is it positive or negative? Is it weak or strong?
b. For which of the three remaining variables, the size of the home, the number of bedrooms, and the number of bathrooms,
is the relationship with the home's selling price stronger? Justify your choice with additional simple linear regression models.
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