Q5. A national homebuilder builds houses in South and Midwest region. Develop a regression model for selling price as a function of lot cost and region. What would be the predicted price for a home in either the Midwest with a lot cost of $30,000? If you use SPSS, please take a screenshot of the result and paste it in this worksheet. (3 Points) a) How do you code the variable "Region"? (Specify which is coded as 0 or 1) south is 0 and there are 113 Midwest is 1 there are 55 South Midwest b) Conduct regressioin analysis and build the model Value R-squared Significance F: Coefficients P-Value (set the level of significance at 0.1) Lot Cost Region For the house in Midwest, the model is For the house in South, the model is Selling Price $85,145 $112,740 $115,350 $17,030 $20,700 $18,030 $19,600 $24,455 $25,500 $29,155 $30,400 $24,650 $27,500 2 Midwest 3 Midwest 4 Midwest 8 Midwest 9 Midwest 10 Midwest 11 Midwest 12 Midwest 13 Midwest 14 South 15 Midwest 16 Midwest 17 Midwest 18 Midwest 19 Midwest $133,070 $136,530 $139,435 $139,955 $147,905 $153,845 $155,270 $155,870 $160,000 $165,220 $165,350 $168,354 $168,500 $170,000 $172,749 $175,000 $175,470 $179,365 $24,650 $29,500 $25,500 $25,000 $27,316 $33,000 $25,200 $45,025 $28,000 $28,600 $32,200 $45,025 $45,025 $28,000 $28,000 $22,300 $33,400 $29,000 $35,851 $27,000 $31,300 $35,000 $45,000 $45,025 $45,025 $45,000 $45,025 21 Midwest 22 Midwest 23 Midwest $182,237 $183,370 25 South 26 Midwest 27 Midwest 28 Midwest 29 Midwest 30 Midwest $184,460 $184,873 32 Midwest 33 Midwest 34 Midwest $186,000 $187,390 $188,603 $191,028 $196,898 $198,202 $200,119 $200,423 $201,700 $202,000 $203,076 $203,950 40 Midwest 42 South 43 Midwest $45,025 $33,000 $205,821 $206,400 $207,345 $209,400 $210,380 $211,513 $211,797 $212,079 $214,205 $214,900 $216,049 $219,990 $220,257 $223,890 $224,108 $225,900 $226,000 $230,000 $230,440 $230,555 $233,900 $234,971 $239,000 $239,870 $241,195 $242,191 $242,899 $246,648 $248,500 $249,900 $250,005 $250,800 $252,135 $253,055 $254,048 $255,000 $256,235 $257,040 $260,100 $262,740 $262,890 $265,058 $265,500 $267,060 $39,299 $35,851 $35,600 $43,579 $33,856 $31,300 $34,000 $33,400 $36,500 $31,300 $35,600 $37,557 $31,300 $28,000 $45,025 $28,618 $35,600 $45,025 $33,000 $28,000 $44,200 $29,202 $39,169 $41,354 $41,340 $33,434 $48,252 $41,600 $20,000 $38,200 $33,000 $73,400 $41,341 $41,340 $39,680 $43,198 $48,500 $37,631 $73,400 $44,900 $48,500 $41,404 $35,800 $73,400 46 South 48 South 49 Midwest 50 Midwest 0 52 Midwest 54 Midwest 55 South 56 South 57 Midwest 58 Midwest 59 South 60 South 63 Midwest 64 Midwest 65 Midwest 66 South 70 South 73 Midwest 75 Midwest 76 South 78 South 84 Midwest 87 Midwest $267,250 $267,640 $268,000 $268,210 $268,500 $269,410 $270,518 $271,105 $274,455 $274,903 $277,720 $280,622 $280,804 $281,487 $281,824 $283,440 $286,758 $287,771 $289,000 $290,000 $290,190 $294,450 $294,990 $299,096 $301,500 $305,000 $307,373 $307,387 $307,663 $309,075 $310,100 $310,372 $312,898 $318,274 $318,523 $319,602 $322,920 $323,716 $324,266 $324,412 $326,570 $329,611 $330,486 $330,710 $45,676 $73,400 91 South 92 Midwest 93 South $29,700 $41,099 $73,400 $46,499 $45,000 $41,000 95 South 96 Midwest 97 Midwest $44,650 $45,130 $40,667 99 Midwest 101 South 102 Midwest 103 South 104 Midwest 105 South 106 South 107 Midwest 108 South 109 South 110 South $50,900 $57,000 $46,300 $44,000 $48,300 $73,400 $57,000 $43,784 $59,000 $49,067 113 South 114 South 115 Midwest 116 South $45,850 118 South $41,800 $60,000 $40,768 $85,800 $50,000 120 South 121 South 122 South 123 South 124 South 125 South 126 Midwest 127 South 128 South 129 South 130 South 131 Midwest 132 South $47,891 $62,523 $51,000 $35,000 $49,920 $49,123 $68,375 $70,399 $49,150 $54,850 $40,000 $50,850 $48,309 $53,000 $46,386 $60,000 133 South 134 South 135 South 136 South 137 South 138 South 139 South 140 South 141 Midwest 142 South 143 South 144 South 145 South 146 South 147 South 148 South 149 South 150 South 151 South 152 South 153 South 154 South 155 South 156 South 157 South 158 South 159 South 160 South 161 South 162 South 163 Midwest $333,158 $335,000 $337,374 $337,380 $338,065 $340,000 $340,730 $342,423 $348,744 $350,702 $352,781 $354,065 $354,117 $355,688 $358,162 $359,949 $366,990 $367,600 $369,101 $371,152 $379,000 $379,424 $379,575 $385,000 $385,942 $387,527 $398,651 $400,330 $404,510 $407,076 $410,810 $417,790 $432,426 $444,304 $446,507 $492,820 $575,120 $56,219 $65,373 $44,470 $50,591 $55,508 $50,000 $46,773 $58,223 $72,915 $64,902 $44,294 $75,000 $49,123 $48,000 $65,429 $75,510 $58,225 $48,668 $66,500 $63,099 $57,422 $53,938 $75,510 $84,122 $79,790 165 South 166 South 167 South 168 South 169 South Q5. A national homebuilder builds houses in South and Midwest region. Develop a regression model for selling price as a function of lot cost and region. What would be the predicted price for a home in either the Midwest with a lot cost of $30,000? If you use SPSS, please take a screenshot of the result and paste it in this worksheet. (3 Points) a) How do you code the variable "Region"? (Specify which is coded as 0 or 1) south is 0 and there are 113 Midwest is 1 there are 55 South Midwest b) Conduct regressioin analysis and build the model Value R-squared Significance F: Coefficients P-Value (set the level of significance at 0.1) Lot Cost Region For the house in Midwest, the model is For the house in South, the model is Selling Price $85,145 $112,740 $115,350 $17,030 $20,700 $18,030 $19,600 $24,455 $25,500 $29,155 $30,400 $24,650 $27,500 2 Midwest 3 Midwest 4 Midwest 8 Midwest 9 Midwest 10 Midwest 11 Midwest 12 Midwest 13 Midwest 14 South 15 Midwest 16 Midwest 17 Midwest 18 Midwest 19 Midwest $133,070 $136,530 $139,435 $139,955 $147,905 $153,845 $155,270 $155,870 $160,000 $165,220 $165,350 $168,354 $168,500 $170,000 $172,749 $175,000 $175,470 $179,365 $24,650 $29,500 $25,500 $25,000 $27,316 $33,000 $25,200 $45,025 $28,000 $28,600 $32,200 $45,025 $45,025 $28,000 $28,000 $22,300 $33,400 $29,000 $35,851 $27,000 $31,300 $35,000 $45,000 $45,025 $45,025 $45,000 $45,025 21 Midwest 22 Midwest 23 Midwest $182,237 $183,370 25 South 26 Midwest 27 Midwest 28 Midwest 29 Midwest 30 Midwest $184,460 $184,873 32 Midwest 33 Midwest 34 Midwest $186,000 $187,390 $188,603 $191,028 $196,898 $198,202 $200,119 $200,423 $201,700 $202,000 $203,076 $203,950 40 Midwest 42 South 43 Midwest $45,025 $33,000 $205,821 $206,400 $207,345 $209,400 $210,380 $211,513 $211,797 $212,079 $214,205 $214,900 $216,049 $219,990 $220,257 $223,890 $224,108 $225,900 $226,000 $230,000 $230,440 $230,555 $233,900 $234,971 $239,000 $239,870 $241,195 $242,191 $242,899 $246,648 $248,500 $249,900 $250,005 $250,800 $252,135 $253,055 $254,048 $255,000 $256,235 $257,040 $260,100 $262,740 $262,890 $265,058 $265,500 $267,060 $39,299 $35,851 $35,600 $43,579 $33,856 $31,300 $34,000 $33,400 $36,500 $31,300 $35,600 $37,557 $31,300 $28,000 $45,025 $28,618 $35,600 $45,025 $33,000 $28,000 $44,200 $29,202 $39,169 $41,354 $41,340 $33,434 $48,252 $41,600 $20,000 $38,200 $33,000 $73,400 $41,341 $41,340 $39,680 $43,198 $48,500 $37,631 $73,400 $44,900 $48,500 $41,404 $35,800 $73,400 46 South 48 South 49 Midwest 50 Midwest 0 52 Midwest 54 Midwest 55 South 56 South 57 Midwest 58 Midwest 59 South 60 South 63 Midwest 64 Midwest 65 Midwest 66 South 70 South 73 Midwest 75 Midwest 76 South 78 South 84 Midwest 87 Midwest $267,250 $267,640 $268,000 $268,210 $268,500 $269,410 $270,518 $271,105 $274,455 $274,903 $277,720 $280,622 $280,804 $281,487 $281,824 $283,440 $286,758 $287,771 $289,000 $290,000 $290,190 $294,450 $294,990 $299,096 $301,500 $305,000 $307,373 $307,387 $307,663 $309,075 $310,100 $310,372 $312,898 $318,274 $318,523 $319,602 $322,920 $323,716 $324,266 $324,412 $326,570 $329,611 $330,486 $330,710 $45,676 $73,400 91 South 92 Midwest 93 South $29,700 $41,099 $73,400 $46,499 $45,000 $41,000 95 South 96 Midwest 97 Midwest $44,650 $45,130 $40,667 99 Midwest 101 South 102 Midwest 103 South 104 Midwest 105 South 106 South 107 Midwest 108 South 109 South 110 South $50,900 $57,000 $46,300 $44,000 $48,300 $73,400 $57,000 $43,784 $59,000 $49,067 113 South 114 South 115 Midwest 116 South $45,850 118 South $41,800 $60,000 $40,768 $85,800 $50,000 120 South 121 South 122 South 123 South 124 South 125 South 126 Midwest 127 South 128 South 129 South 130 South 131 Midwest 132 South $47,891 $62,523 $51,000 $35,000 $49,920 $49,123 $68,375 $70,399 $49,150 $54,850 $40,000 $50,850 $48,309 $53,000 $46,386 $60,000 133 South 134 South 135 South 136 South 137 South 138 South 139 South 140 South 141 Midwest 142 South 143 South 144 South 145 South 146 South 147 South 148 South 149 South 150 South 151 South 152 South 153 South 154 South 155 South 156 South 157 South 158 South 159 South 160 South 161 South 162 South 163 Midwest $333,158 $335,000 $337,374 $337,380 $338,065 $340,000 $340,730 $342,423 $348,744 $350,702 $352,781 $354,065 $354,117 $355,688 $358,162 $359,949 $366,990 $367,600 $369,101 $371,152 $379,000 $379,424 $379,575 $385,000 $385,942 $387,527 $398,651 $400,330 $404,510 $407,076 $410,810 $417,790 $432,426 $444,304 $446,507 $492,820 $575,120 $56,219 $65,373 $44,470 $50,591 $55,508 $50,000 $46,773 $58,223 $72,915 $64,902 $44,294 $75,000 $49,123 $48,000 $65,429 $75,510 $58,225 $48,668 $66,500 $63,099 $57,422 $53,938 $75,510 $84,122 $79,790 165 South 166 South 167 South 168 South 169 South