Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need ans in 15 mins max A national homebuilder builds single-family homes and condominium-style townhouses. The homebuilder collects data on the selling price, lot

image text in transcribedimage text in transcribed

I need ans in 15 mins max

A national homebuilder builds single-family homes and condominium-style townhouses. The homebuilder collects data on the selling price, lot cost, type of home, and region of the country (M=Midwest, S=South) for closings during one month. Assume the following summary output is the result of the analysis of the homebuilder's data. SUMMARY OUTPUT Regression Statistics Multiple R 0.81 0.66 R Square Adjusted R Square 0.65 Standard Error 27256.33 Observations 105 ANOVA df SS MS Significance F Regression 1.45474E+11 72737033727 1.85002E-24 Residual 75776592133 742907766 Total 2.21251E+11 Coefficients t Stat P-value Lower 95% Standard Error Upper 95% Intercept 124078.08 9051.36 13.71 7.09992E-25 106124.75 142031.40 Lot Cost 2.78 0.23 12.19 1.27124E-21 2.33 3.23 Townhouse -47418.98 5915.42 -8.02 1.88449E-12 -59152.19 -35685.77 What is the price difference between a townhouse and a single-family house if their lot cost is the same? A. A Townhouse is worth 47,418.98 more than a single-family house. B. No difference in price as lot cost is very important. C. A Single-family house is expensive, but we don't have sufficient data to pinpoint the price difference. D. A Single-family house is worth 47,418.98 more than a Townhouse A national homebuilder builds single-family homes and condominium-style townhouses. The homebuilder collects data on the selling price, lot cost, type of home, and region of the country (M=Midwest, S=South) for closings during one month. Assume the following summary output is the result of the analysis of the homebuilder's data. SUMMARY OUTPUT Regression Statistics Multiple R 0.81 0.66 R Square Adjusted R Square 0.65 Standard Error 27256.33 Observations 105 ANOVA df SS MS Significance F Regression 1.45474E+11 72737033727 1.85002E-24 Residual 75776592133 742907766 Total 2.21251E+11 Coefficients t Stat P-value Lower 95% Standard Error Upper 95% Intercept 124078.08 9051.36 13.71 7.09992E-25 106124.75 142031.40 Lot Cost 2.78 0.23 12.19 1.27124E-21 2.33 3.23 Townhouse -47418.98 5915.42 -8.02 1.88449E-12 -59152.19 -35685.77 What is the price difference between a townhouse and a single-family house if their lot cost is the same? A. A Townhouse is worth 47,418.98 more than a single-family house. B. No difference in price as lot cost is very important. C. A Single-family house is expensive, but we don't have sufficient data to pinpoint the price difference. D. A Single-family house is worth 47,418.98 more than a Townhouse

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

Financial Management In The Public Sector Tools Applications And Cases

Authors: Xiaohu Wang

1st Edition

0765616785, 9780765616784

More Books

Students also viewed these Finance questions