Question
I need help answering these questions. I keep getting incorrect answers. A regression analysis is performed using data for 34 single-family homes to predict appraised
I need help answering these questions. I keep getting incorrect answers.
A regression analysis is performed using data for 34 single-family homes to predict appraised value(in thousands ofdollars) based on land area of the property(in acres), X1i, and age(in years), X2i, in month i. Use the results below to answer the following questions.
Variable Coefficient Standard Error T Stat P-Value
intercept 394.28315 52.39455 7.53 0.0000
Area, X1 460.20145 103.67952 4.44 0.0001
Area,X2 -2.88116 0.60398 -4.77 0.0000
At the 0.05 level ofsignificance, determine whether each independent variable makes a significant contribution to the regression model. On the basis of theseresults, indicate the independent variables to include in this model.
Choose the correct hypotheses for X1 below.
A.
H0: 10
H1: 1=0
B.
H0: 11
H1: 1=1
C.
H0: 1=1
H1: 11
D.
H0: 1=0
H1: 10
Find the test statistic.
tSTAT=
(Round to two decimal places asneeded.)
Determine thep-value.
p-value=
(Round to four decimal places asneeded.)
Reach a conclusion. Choose the correct answer below.
(Do not reject OR Reject.) There (is not OR is) sufficient evidence that X1 makes a significant contribution to the regression model.
Choose the correct hypotheses for X2 below.
A.
H0: 20
H1: 2=0
B.
H0: 2=1
H1: 21
C.
H0: 2=0
H1: 20
D.
H0: 21
H1: 2=1
Find the test statistic.
tSTAT=
(Round to two decimal places asneeded.)
Determine thep-value.
p-value=
(Round to four decimal places asneeded.)
Reach a conclusion. Choose the correct answer below.
(Reject OR Do not Reject) H0. There (is not OR is) sufficient evidence that X2 makes a significant contribution to the regression model.
On the basis of theseresults, indicate the independent variables to include in this model.
Choose the correct answer below.
A.
Include both variablesX1andX2.
B.
Include onlythe variableX2.
C.
Include neither variable X1 nor variable X2.
D.
Include onlythe variable X1
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