Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Home Price SqFt Bedrooms Bathrooms Offers Brick Neighborhood 1 $571,500 1790 2 2 2 No East 2 $571,000 2030 4 2 3 No East 3

Home Price SqFt Bedrooms Bathrooms Offers Brick Neighborhood 1 $571,500 1790 2 2 2 No East 2 $571,000 2030 4 2 3 No East 3 $574,000 1740 3 2 1 No East 4 $473,500 1980 3 2 3 No East 5 $599,000 2130 3 3 3 No East 6 $573,000 1780 3 2 2 No North 7 $758,000 1830 3 3 3 Yes West 8 $753,500 2160 4 2 2 No West 9 $596,000 2110 4 2 3 No East 10 $520,000 1730 3 3 3 No East 11 $662,500 2030 3 2 3 Yes East 12 $615,000 1870 2 2 2 Yes East 13 $513,000 1910 3 2 4 No North 14 $631,500 2150 3 3 5 Yes North 15 $884,000 2590 4 3 4 No West 16 $729,000 1780 4 2 1 No West 17 $735,500 2190 3 3 4 Yes East 18 $418,000 1990 3 3 4 No North 19 $557,000 1700 2 2 1 Yes East 20 $836,000 1920 3 3 2 Yes West 21 $581,000 1790 3 2 3 No East 22 $569,000 2000 3 2 4 No North 23 $458,500 1690 3 2 3 No North 24 $530,500 1820 3 2 3 Yes North 25 $782,000 2210 4 3 2 Yes East 26 $746,500 2290 4 3 3 No North 27 $685,000 2000 4 2 3 No West 28 $496,500 1700 3 2 2 No East 29 $345,500 1600 2 2 3 No North 30 $940,000 2040 4 3 1 Yes West 31 $910,000 2250 4 3 3 Yes West 32 $561,500 1930 2 2 2 Yes North 33 $675,000 2250 3 3 3 Yes East 34 $698,000 2280 5 3 4 Yes East 35 $589,000 2000 2 2 3 No North 36 $585,500 2080 3 3 3 No North 37 $587,500 1880 2 2 2 No North 38 $735,000 2420 4 3 4 No West 39 $656,500 1720 3 2 1 No West 40 $541,000 1740 3 2 2 No North 41 $533,000 1560 2 2 1 No East 42 $668,000 1840 4 3 2 No West 43 $528,000 1990 2 2 3 No East 44 $770,000 1920 3 2 1 Yes East 45 $832,500 1940 3 3 2 Yes West 46 $516,000 1810 3 2 3 No East 47 $649,000 1990 2 3 2 No North 48 $451,500 2050 3 2 6 No North 49 $579,500 1980 2 2 2 No East 50 $537,500 1700 3 2 3 Yes North 51 $755,500 2100 3 2 3 Yes East 52 $455,500 1860 2 2 3 No North 53 $587,000 2150 2 3 4 No North 54 $654,000 2100 3 2 3 No North 55 $406,500 1650 3 2 3 No North 56 $628,500 1720 2 2 2 Yes East 57 $704,500 2190 3 2 3 Yes East 58 $761,500 2240 4 3 3 No West 59 $690,500 1840 3 3 1 No West 60 $777,000 2090 4 2 1 No West 61 $904,500 2200 3 3 1 No West 62 $504,500 1610 2 2 2 No North 63 $806,500 2220 4 3 2 No West 64 $602,500 1910 2 3 2 No East 65 $651,500 1860 3 2 2 No West 66 $555,500 1450 2 2 1 Yes North 67 $631,000 2210 3 3 4 No North 68 $759,500 2040 4 3 3 No East 69 $468,000 2140 3 2 4 No North 70 $828,000 2080 4 3 3 No West 71 $833,500 1950 3 3 3 Yes West 72 $788,000 2160 4 2 1 No West 73 $536,500 1650 3 2 3 No North 74 $628,500 2040 3 3 2 No East 75 $721,000 2140 3 3 3 No West 76 $534,500 1900 2 2 2 No North 77 $649,000 1930 3 2 2 No West 78 $882,500 2280 4 3 3 Yes West 79 $606,500 2130 3 2 3 No North 80 $718,000 1780 4 2 1 No West 81 $717,000 2190 3 3 4 Yes East 82 $921,500 2140 4 3 2 Yes West 83 $824,000 2050 2 2 1 Yes West 84 $738,500 2410 3 3 2 No East 85 $452,500 1520 2 2 3 No North 86 $941,500 2250 4 3 2 Yes West 87 $513,500 1900 4 2 4 No North 88 $862,500 1880 3 3 1 Yes West 89 $638,500 1930 3 3 2 No North 90 $489,000 2010 2 2 4 No North 91 $715,500 1920 4 2 2 No West 92 $582,500 2150 3 2 2 No East 93 $713,000 2110 3 2 2 No West 94 $785,500 2080 3 3 2 No East 95 $803,000 2150 4 3 3 Yes West 96 $762,500 1970 2 2 1 Yes West 97 $666,500 2440 3 3 3 No East 98 $634,000 2000 2 2 1 Yes East 99 $727,500 2060 3 2 1 No West 100 $855,000 2080 3 3 2 Yes West 101 $516,000 2010 3 2 5 No North 102 $615,500 2260 3 3 5 No East 103 $684,000 2410 3 3 4 No East 104 $1,056,000 2440 4 3 3 Yes West 105 $411,500 1910 3 2 4 No East 106 $734,500 2530 4 3 4 No West 107 $542,500 2130 3 2 4 No North 108 $670,000 1890 3 2 1 Yes East 109 $585,000 1990 3 3 3 Yes East 110 $543,500 2110 3 2 3 No East 111 $558,000 1710 2 2 1 No North 112 $574,500 1740 2 2 2 No North 113 $618,000 1940 2 2 2 Yes East 114 $578,500 2000 3 2 3 Yes North 115 $622,500 2010 4 3 2 No East 116 $512,500 1900 3 3 3 No North 117 $997,500 2290 5 4 1 Yes West 118 $589,000 1920 3 2 2 No North 119 $751,000 1950 3 2 3 Yes North 120 $548,500 1920 2 2 4 No North 121 $552,000 1930 2 3 3 No North 122 $528,000 1930 3 3 3 No East 123 $724,000 2060 2 2 1 Yes East 124 $598,500 1900 3 3 3 Yes East 125 $739,500 2160 4 3 3 Yes East 126 $567,500 2070 2 2 2 No North 127 $749,500 2020 3 3 1 No West 128 $623,000 2250 3 3 4 No North

Consider the data in the attached fileHouse Prices.xlsxon 128 recent sales of single-family houses in Springfield. The variables are:

  • Price: Price at which house was eventually sold
  • SqFt: Floor area in square feet
  • Bedrooms: Number of bedrooms
  • Bathrooms: Number of bathrooms
  • Offers: Number of offers made on the house prior to the accepted offer
  • Brick: Whether the construction is primarily brick or not (yes or no)
  • Neighborhood: One of the three neighborhoods in Springfield (east, west or north)

Flag this Question

Question 1

4pts

Create a regression model for Price using SqFt, Bedrooms, Bathrooms and Offers as the independent (explanatory) variables.Let us call thisModelA.

Write out the estimated regression equation in the form given below. Round the values of constant, b1, b2, b3 and b4 to the closest integer.

ModelA:Write out the estimated regression equation in the form given below. Round the values of constant, b1, b2, b3 and b4 to the closest intege

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

Step: 3

blur-text-image

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel

17th edition

1119503663, 1119571480, 1-119-50368-2, 111950368X, 978-1119503668

More Books

Students also viewed these Accounting questions