Question 41 3 pts The analyst suspected that the effects on sale price of floor height and distance from the elevator might not be linear and that view of ocean and floor height interacted to affect the sale price. Hence, the analyst added the following variables to Model 1: floor*view, floor, and dist? The Excel output for this new Model 2 was provided below. Model 2: price = Bo + B1 floor + B2 dist + B3 view + B4 furnish + B5 floor * dist + Befloor * view + B+ floor2 + Bg dist? + E ANOVA df SS MS F 146514.383 Regression Residual Total 200 208 238892.775 Coefficients Standard Error t Stat P-value 173.617 13.657 12.712 0.000 Intercept floor -6.241 3.321 dist -5.685 1.713 view 66.403 6.629 10.017 0.000 furnish 22.189 8.682 floor*dist -0.252 0.147 floor view -6.071 1.315 floor^2 0.850 0.324 2.619 0.010 dist2 0.558 0.099 5.647 0.000 Use Model 2 to answer parts g-i. the fifth floor g. Predict the sale price (in thousands of dollars) for a furnished unit with ocean view when the distance from the elevator is 6. Question 42 3 pts h-(i). Conduct an Ftest to determine whether floor* view, floor, and dista contribute significantly to the model. Use a = 0.05. Compute the test statistic value. Question 43 2 pts h-(ii). What is the p-value? O p-value is less than 0.01 p-value is between 0.025 to 0.05 p-value is between 0.05 to 0.1 O p-value is between 0.01 to 0.025 Question 44 2 pts h-(iii). Find the critical value. 2.46 2.70 2.31 Oo 3.25 Question 45 1.5 pts h-(iv). What is your conclusion? Reject Ho. None of these variables is significant. Do not reject Ho. At least one of these variables is significant. Reject Ho. At least one of these variables is significant. Do not reject Ho. None of these variables is significant. Question 46 3 pts i-(i). Construct a confidence interval to determine whether the effect of floor height on sale price depends on the distance from the elevator. Use 0.05 level of significance. -0.42 to 0.07 -12.79 to 0.31 -0.54 to 0.04 -9.06 to -2.31 Question 47 2 pts i-(ii). What is your conclusion? Since the confidence interval contains 0, floor height and distance from the elevator don't interact to affect the sale price. Since the confidence interval contains 0, floor height and distance from the elevator interact to affect the sale price. Since the confidence interval contains -0.252, floor height and distance from the elevator interact to affect the sale price. Since the confidence interval contains -0.252, floor height and distance from the elevator don't interact to affect the sale price. Question 41 3 pts The analyst suspected that the effects on sale price of floor height and distance from the elevator might not be linear and that view of ocean and floor height interacted to affect the sale price. Hence, the analyst added the following variables to Model 1: floor*view, floor, and dist? The Excel output for this new Model 2 was provided below. Model 2: price = Bo + B1 floor + B2 dist + B3 view + B4 furnish + B5 floor * dist + Befloor * view + B+ floor2 + Bg dist? + E ANOVA df SS MS F 146514.383 Regression Residual Total 200 208 238892.775 Coefficients Standard Error t Stat P-value 173.617 13.657 12.712 0.000 Intercept floor -6.241 3.321 dist -5.685 1.713 view 66.403 6.629 10.017 0.000 furnish 22.189 8.682 floor*dist -0.252 0.147 floor view -6.071 1.315 floor^2 0.850 0.324 2.619 0.010 dist2 0.558 0.099 5.647 0.000 Use Model 2 to answer parts g-i. the fifth floor g. Predict the sale price (in thousands of dollars) for a furnished unit with ocean view when the distance from the elevator is 6. Question 42 3 pts h-(i). Conduct an Ftest to determine whether floor* view, floor, and dista contribute significantly to the model. Use a = 0.05. Compute the test statistic value. Question 43 2 pts h-(ii). What is the p-value? O p-value is less than 0.01 p-value is between 0.025 to 0.05 p-value is between 0.05 to 0.1 O p-value is between 0.01 to 0.025 Question 44 2 pts h-(iii). Find the critical value. 2.46 2.70 2.31 Oo 3.25 Question 45 1.5 pts h-(iv). What is your conclusion? Reject Ho. None of these variables is significant. Do not reject Ho. At least one of these variables is significant. Reject Ho. At least one of these variables is significant. Do not reject Ho. None of these variables is significant. Question 46 3 pts i-(i). Construct a confidence interval to determine whether the effect of floor height on sale price depends on the distance from the elevator. Use 0.05 level of significance. -0.42 to 0.07 -12.79 to 0.31 -0.54 to 0.04 -9.06 to -2.31 Question 47 2 pts i-(ii). What is your conclusion? Since the confidence interval contains 0, floor height and distance from the elevator don't interact to affect the sale price. Since the confidence interval contains 0, floor height and distance from the elevator interact to affect the sale price. Since the confidence interval contains -0.252, floor height and distance from the elevator interact to affect the sale price. Since the confidence interval contains -0.252, floor height and distance from the elevator don't interact to affect the sale price
