Purpose This assignment provides an opportunity to develop, evaluate, and apply bivariate and multivariate linear regression models Resources Microsoft Excel, DAT565 v3 Wk5 Data File Instructions The Excel file for this assignment contains a database with information about the tax assessment value assigned to medical office buildings in a city The following is a list of the variables in the database FloorArea square feet of floor space Offices number of offices in the building Entrances number of customer entrances Age age of the building (years) AssessedValue tax assessment value (thousands of dollars) Use the data to construct a model that predicts the tax assessment value assigned to medical office buildings with specific characteristics Construct a scatter plot in Excel with FloorArea as the independent variable and AssessmentValue as the dependent variable Insert the bivariate linear regression equation and r 2 in your graph Do you observe a linear relationship between the 2 variables Use Excel's Analysis ToolPak to conduct a regression analysis of FloorArea and AssessmentValue Is FloorArea a significant predictor of AssessmentValue Construct a scatter plot in Excel with Age as the independent variable and AssessmentValue as the dependent variable Insert the bivariate linear regression equation and r 2 in your graph Do you observe a linear relationship between the 2 variables Use Excel's Analysis ToolPak to conduct a regression analysis of Age and Assessment Value Is Age a significant predictor of AssessmentValue Construct a multiple regression model Use Excel's Analysis ToolPak to conduct a regression analysis with AssessmentValue as the dependent variable and FloorArea , Offices , Entrances , and Age as independent variables What is the overall fit r 2 What is the adjusted r 2 Which predictors are considered significant if we work with 0 05 Which predictors can be eliminated What is the final model if we only use FloorArea and Offices as predictors Suppose our final model is AssessedValue 115 9 0 26 x FloorArea 78 34 x Offices What wouldbe the assessed value of a medical office building with a floor area of 3500 sq ft , 2 offices, that was built 15 years ago Is this assessed value consistent with what appears in the database Submit your assignment

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Purpose This assignment provides an opportunity to develop, evaluate, and apply bivariate and multivariate linear regression models. Resources:Microsoft Excel, DAT565_v3_Wk5_Data_File Instructions: The Excel file for

Purpose

This assignment provides an opportunity to develop, evaluate, and apply bivariate and multivariate linear regression models.

Resources:Microsoft Excel, DAT565_v3_Wk5_Data_File

Instructions:

The Excel file for this assignment contains a database with information about the tax assessment value assigned to medical office buildings in a city. The following is a list of the variables in the database:

FloorArea: square feet of floor space
Offices: number of offices in the building
Entrances: number of customer entrances
Age: age of the building (years)
AssessedValue: tax assessment value (thousands of dollars)

Use the data to construct a model that predicts the tax assessment value assigned to medical office buildings with specific characteristics.

Construct a scatter plot in Excel with FloorArea as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?
Use Excel's Analysis ToolPak to conduct a regression analysis of FloorArea and AssessmentValue. Is FloorArea a significant predictor of AssessmentValue?
Construct a scatter plot in Excel with Age as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?
Use Excel's Analysis ToolPak to conduct a regression analysis of Age and Assessment Value. Is Age a significant predictor of AssessmentValue?

Construct a multiple regression model.

Use Excel's Analysis ToolPak to conduct a regression analysis with AssessmentValue as the dependent variable and FloorArea, Offices, Entrances, and Age as independent variables. What is the overall fit r^2? What is the adjusted r^2?
Which predictors are considered significant if we work with =0.05? Which predictors can be eliminated?
What is the final model if we only use FloorArea and Offices as predictors?
Suppose our final model is:
AssessedValue = 115.9 + 0.26 x FloorArea + 78.34 x Offices
What wouldbe the assessed value of a medical office building with a floor area of 3500 sq. ft., 2 offices, that was built 15 years ago? Is this assessed value consistent with what appears in the database?