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Realtor is interested in looking at the relationship between number of bedrooms and the selling price of the house (in dollars). She collected information from
Realtor is interested in looking at the relationship between number of bedrooms and the selling price of the house (in dollars). She collected information from a random sample of 105 listings. Realtor was interested in developing a regression model to predict the selling price based on the number of bedrooms. Below provided to you are some of her partial outputs.
Coefficients Term Coef SE Coef T-Value P-Value VIF Constant 137371 4767 28.82 0.000 Bedrooms 51519 1282 1.00 Model Summary S R-sq R-sq(adj) R-sq(pred) 28346.4 94.00% 93.95% 93.77% Analysis of Variance Source DF Adj SS Adj MS F-Value P-Value Regression 1.29769E+12 1.29769E+12 1615.01 0.000 Bedrooms - 1.29769E+12 1.29769E+12 1615.01 0.000 Error 103 82762620332 803520586 Lack-of-Fit 5 3293784613 658756923 0.81 0.544 Pure Error 98 79468835719 810906487 Total 104 1.38046E+12Step by Step Solution
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