Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Group Activity #3: Determine the Regression equation. @IR'N', @113? #1 Respondents AGE MATH PERFORMANCE 1 12 80 2 14 75 3 13 70 4 15

image text in transcribedimage text in transcribed
Group Activity #3: Determine the Regression equation. @IR'N',\" @113?\" #1 Respondents AGE MATH PERFORMANCE 1 12 80 2 14 75 3 13 70 4 15 65 5 10 B 6 20 82 7 13 81 B 17 76 9 16 79 10 11 81 #2 Stephen Lawrence, a real estate broker, has developed a regression model to help appraise rental cost of condominium units n his area. The model was developed using recently rented units in a particular neighborhood. The rental price (y) is based on the floor area (x) of the unit. The model is. y = 960.39r - 8, 487.26 The coefficient of correlation for the model is 0.92. (a) Use the model to predict the selling price of a house that is 33 square meters. (b) A house with 33 square meters was recently rented out for Php 25,000. Explain why this is not what the model predicted. (c) How much of this model could account to actual rental cost? (d) If you were going to use multiple regression to develop an appraisal model, what other quantitative variables might be included in the model

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_2

Step: 3

blur-text-image_3

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

Elementary Differential Equations And Boundary Value Problems

Authors: William E Boyce, Richard C DiPrima

8th Edition

0470476389, 9780470476383

More Books

Students also viewed these Mathematics questions