Question
On #24 of this assignment, I have the same question with different data. I know how to do a regression on excel, but I am
On #24 of this assignment, I have the same question with different data. I know how to do a regression on excel, but I am struggling to figure out how to find the test statistic and subsequently p-value for this specific situation. Any help would be much appreciated thank you. (I'm not sure if it attaches with the Document I am viewing but it is labeled on here as HW5 multiple regression 45.xlsx) (Indiana University, Purdue University Indianapolis)
E(PRICE) = ?? + ??SQFT + ??YEARS
25.) Test the hypothesis that having an older house reduces the price by $1,000 for each year of age. Perform the test for ALL houses. The p-value for the test is ______.
*your system would not allow to input the data, but here is the regression. I don't need an exact answer I just need guidance how to perform this in general in this scenario.
SUMMARY OUTPUT Regression Statistics Multiple R 0.761745 R Square 0.580255 Adjusted R 0.579559 Standard E 85.15456 Observatio 1209 ANOVA df SS MS F Significance F Regression 2 12089177 6044589 833.5871 4.5727E-228 Residual 1206 8745066 7251.298 Total 1208 20834243 Coefficients andard Err tStat P-value Lower 95% Upper 95% ower 95.0%Upper 95.0% Intercept -36.1565 7.156104 -5.05254 5.03E-07 -50.1963312 -22.1167 -50.1963 -22.1167 SQFT 0.089069 0.002283 39.02227 4.5E-216 0.084590875 0.093547 0.084591 0.093547 YEARS -0.74804 0.12975 -5.76523 1.03E-08 -1.00260013 -0.49348 -1.0026 -0.49348Step by Step Solution
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