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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 |
- According to the coefficients from this new regression, what is the equation you would use to predict the price of a home?
- 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?
- 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)?
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