This housing price data contains 128 recent single-family home sales in Mid City this year. For each sale, the data contains the square footage, whether the house is made of a brick or not, number of bathrooms, the number of bedrooms and the selling price.

Please answer the questions below and upload a document with your answers. (Word or PDF document). Please provide details of your regressions in the file.

The data for this homework is in excel file title Housing price: There are many factors that affect the house price of a single-family house. For this homework there are 128 recent sales in Mid City this year. For each sale, the data contains the square footage, whether the house is made of a brick or not, number of bathrooms, the number of bedrooms and the selling price.

1. (5 points) To obtain an initial overview of the data, calculate the minimum, average, standard deviation and maximum value of the variables Selling price, square footage, number of bedrooms and bathrooms. Also provide a correlation between the quantitative variables in this data. Do you see any issue of collinearity?

1. Run SLR of home selling price against square footage. Is there a statistically significant relationship between selling price and square footage? Use =0.05 to make a decision. Write the regression equation. (Round the estimated coefficients to 3 decimal place)

2. Develop a regression model of home selling price against square footage, number of bedrooms, bathrooms and Bricks, Answer the following questions:

• Write the regression equation. (Round the estimated coefficients to 3 decimal place)
• Write the separate regression equation for a house with a brick and with no break? (Round the estimated coefficients to 3 decimal place)
• Write the hypothesis that test model significance? Is the model significant? Use =0.05
• Which variable(s) is (are) statistically significant use =0.05?
• Interpret the meaning of the slope coefficient of Square footage and No bricks in the context of this problem?
• Do home buyers pay a premium for a brick house all being equal

3. Predict the selling price of a single-family house with a 2000 Square footage, 4 bedrooms, 3 bathrooms and a brick house? (Round your answers to 2 decimal place)

4. Find the Prediction and Confidence Interval for a single-family house with a 2000 Square footage, 4 bedrooms, 3 bathrooms and a brick house? (Round your answers to 2 decimal place). Interpret the two intervals? Which Interval is narrow?

5. Assess the strengths and weaknesses of your MLR model, including "goodness-of-fit" and residual analysis. Do the assumptions appear to be satisfied?

Home	Sq Ft	Brick	Bedrooms	Bathrooms	Price
1	1790	No	2	2	114300
2	2030	No	4	2	114200
3	1740	No	3	2	114800
4	1980	No	3	2	94700
5	2130	No	3	3	119800
6	1780	No	3	2	114600
8	2160	No	4	2	150700
9	2110	No	4	2	119200
10	1730	No	3	3	104000
13	1910	No	3	2	102600
15	2590	No	4	3	176800
16	1780	No	4	2	145800
18	1990	No	3	3	83600
21	1790	No	3	2	116200
22	2000	No	3	2	113800
23	1690	No	3	2	91700
26	2290	No	4	3	149300
27	2000	No	4	2	137000
28	1700	No	3	2	99300
29	1600	No	2	2	69100
35	2000	No	2	2	117800
36	2080	No	3	3	117100
37	1880	No	2	2	117500
38	2420	No	4	3	147000
39	1720	No	3	2	131300
40	1740	No	3	2	108200
41	1560	No	2	2	106600
42	1840	No	4	3	133600
43	1990	No	2	2	105600
46	1810	No	3	2	103200
47	1990	No	2	3	129800
48	2050	No	3	2	90300
49	1980	No	2	2	115900
52	1860	No	2	2	91100
53	2150	No	2	3	117400
54	2100	No	3	2	130800
55	1650	No	3	2	81300
58	2240	No	4	3	152300
59	1840	No	3	3	138100
60	2090	No	4	2	155400
61	2200	No	3	3	180900
62	1610	No	2	2	100900
63	2220	No	4	3	161300
64	1910	No	2	3	120500
65	1860	No	3	2	130300
67	2210	No	3	3	126200
68	2040	No	4	3	151900
69	2140	No	3	2	93600
70	2080	No	4	3	165600
72	2160	No	4	2	157600
73	1650	No	3	2	107300
74	2040	No	3	3	125700
75	2140	No	3	3	144200
76	1900	No	2	2	106900
77	1930	No	3	2	129800
79	2130	No	3	2	121300
80	1780	No	4	2	143600
84	2410	No	3	3	147700
85	1520	No	2	2	90500
87	1900	No	4	2	102700
89	1930	No	3	3	127700
90	2010	No	2	2	97800
91	1920	No	4	2	143100
92	2150	No	3	2	116500
93	2110	No	3	2	142600
94	2080	No	3	3	157100
97	2440	No	3	3	133300
99	2060	No	3	2	145500
101	2010	No	3	2	103200
102	2260	No	3	3	123100
103	2410	No	3	3	136800
105	1910	No	3	2	82300
106	2530	No	4	3	146900
107	2130	No	3	2	108500
110	2110	No	3	2	108700
111	1710	No	2	2	111600
112	1740	No	2	2	114900
115	2010	No	4	3	124500
116	1900	No	3	3	102500
118	1920	No	3	2	117800
120	1920	No	2	2	109700
121	1930	No	2	3	110400
122	1930	No	3	3	105600
126	2070	No	2	2	113500
127	2020	No	3	3	149900
128	2250	No	3	3	124600