Question
Spring is a peak time for selling houses. The file SpringHouses contains the selling price, number of bathrooms, square footage, and number of bedrooms of
Spring is a peak time for selling houses. The file SpringHouses contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018 (realtor.com website)
SellingPrice Baths Sq Ft Bedrooms 160000 1.5 1776 3 170000 2 1768 3 178000 1 1219 3 182500 1 1568 2 195100 1.5 1125 3 212500 2 1196 2 245900 2 2128 3 250000 3 1280 3 255000 2 1596 3 258000 3.5 2374 4 267000 2.5 2439 3 268000 2 1470 4 275000 2 1678 4 295000 2.5 1860 3 325000 3 2056 4 325000 3.5 2776 4 328400 2 1408 4 331000 1.5 1972 3 344500 2.5 1736 3 365000 2.5 1990 4 385000 2.5 3640 4 395000 2.5 1918 4 399000 2 2108 3 430000 2 2462 4 430000 2 2615 4 454000 3.5 3700 4
A.) Develop an estimated regression equation that can be used to predict the selling price given the three independent variables (number of baths, square footage, and number of bedrooms) (to 2 decimals). Enter negative value as negative number.
Selling price= _________+ ___________baths+ ________sq feet + _____Bedrooms
B.) It is argued that we do not need both number of baths and number of bedrooms. Develop an estimated regression equation that can be used to predict selling price given square footage and the number of bedrooms (to 2 decimals). Enter negative value as negative number.
Selling Price= ______+______sq feet + _____Bedrooms
C.) Suppose your house has 4 bedrooms and 2650 square feet. What is the predicted selling price using the model developed in part (c). Use the regression coefficients rounded to decimals in your calculations. Round your answer to the nearest dollar.
$__________
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