Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Regression Statistics Multiple R 0.78 R Square 0.61 Adjusted R Square 0.58 Standard Error 146.27 Observations 98 ANOVA df SS MS F Significance F Regression

Regression Statistics
Multiple R 0.78
R Square 0.61
Adjusted R Square 0.58
Standard Error 146.27
Observations 98
ANOVA
df SS MS F Significance F
Regression 6 2983351 497225.2 23.24137 1.81E-16
Residual 91 1946851 21393.97
Total 97 4930202
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept -69.27 80.53 -0.86 0.39 -229.24 90.69 -229.24 90.69
bath 46.77 24.03 1.95 0.05 -0.96 94.51 -0.96 94.51
area 0.11 0.02 4.49 0.00 0.06 0.15 0.06 0.15
lot 330.75 74.50 4.44 0.00 182.76 478.74 182.76 478.74
Central_cooling 88.35 30.43 2.90 0.00 27.92 148.79 27.92 148.79
bed -12.40 26.13 -0.47 0.64 -64.30 39.50 -64.30 39.50
Heat_pump 39.52 39.90 0.99 0.32 -39.73 118.78 -39.73 118.78
  1. According to the coefficients from this new regression, what is the equation you would use to predict the price of a home?
  2. If you find two houses that differ only in that one of them has an additional floor (that amounts to 1200 extra square feet in size), with one more bedroom and two more bathrooms as well, what is the expected difference in price (in dollars) between these two houses according to this regression?
  3. Which of the coefficients in this regression are significant at the 5% level, and which are weakly significant (i.e., significant at the 10% level but not the 5% level)?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Organic Chemistry

Authors: Marc Loudon, Jim Parise

6th Edition

1936221349, 978-1936221349

Students also viewed these Mathematics questions

Question

BPR always involves automation. Group of answer choices True False

Answered: 1 week ago