Help please A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size). House size

Question

88 users unlocked this solution today!

Help please

A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size). House size is measured in hundreds of square feet and income is measured in thousands of dollars. The builder randomly selected 50 families and ran the multiple regression. Partial Microsoft Excel output is provided below: Regression Statistics Multiple R 0.8479 R Square 0.7189 Adjusted R Square 0.7069 Standard Error 17.5571 Observations 50 ANOVA df SS MS F Significance F Regression 37043.3236 18521.6618 0.0000 Residual 14487.7627 308.2503 Total 49 51531.0863 Coefficients Standard Error t Stat P-value Intercept -5.5146 7.2273 -0.7630 0.4493 Income 0.4262 0.0392 10.8668 0.0000 Size 5.5437 1.6949 3.2708 0.0020 Also SSR (X1 1 X2) = 36400.6326 and SSR (X2 1 X1) = 3297.7917 Which of the following values for the level of significance is the smallest for which the regression model as a whole is significant? O 0.01 O 0.05 0 0.0005 O 0.001A contractor developed a multiplicative time-series model to forecast the number of contracts in future quarters, using quarterly data on number of contracts during the 3-year period from 2010 to 2012. The following is the resulting regression equation: In Y = 3.37 + 0.117 X - 0.083 Q1 + 1.28 Q2 + 0.617 Q3 where Y is the estimated number of contracts in a quarter X is the coded quarterly value with X = 0 in the first quarter of 2010 Q1 is a dummy variable equal to 1 in the first quarter of a year and 0 otherwise Q2 is a dummy variable equal to 1 in the second quarter of a year and 0 otherwise Q3 is a dummy variable equal to 1 in the third quarter of a year and 0 otherwise In testing the coefficient for Q1 in the regression equation (-0.083), the results were a t-statistic of -0.66 and an associated p-value of 0.530. Which of the following is the best interpretation of this result? O The number of contracts in the first quarter of the year is not significantly different from the number of contracts in an average quarter (a = 0.05). O The number of contracts in the first quarter of the year is significantly different from the number of contracts in an average quarter (a = 0.05). O The number of contracts in the first quarter of the year is significantly different from the number of contracts in the fourth quarter for a given coded quarterly value of X (a = 0.05). The number of contracts in the first quarter of the year is not significantly different from the number of contracts in the fourth quarter for a given coded quarterly value of X (a = 0.05)