Y 100% View only A B D 1 1 Real Estate Sales Price 2 3 Home Size X1 23 Rating X2 4 5 5 6 11 2 7 9 8 Sales Price Y 180 98.1 173.1 136.5 141 165.9 193.5 127.8 163.5 172.5 20 17 15 3 8 9 10 21 4 7 11 24 12 13 6 13 7 19 25 14 2 15 16 1 THE REAL ESTATE SALES PRICE CASE A real estate agency collects the data concerning y = sales price of a house (in thousands of dollars) x1 = home size (in hundreds of square feet) x2 = rating an overall "niceness rating for the house expressed on a scale from 1(worst] to 10 (best), and provided by the real estate agency) Scatter plots of y versus x1 and y versus x2 are as follows: Price Price Size, X1 Rating, X2 Click here for the data. 1. What is b1 and b2 2. Calculate a point estimate of the mean sales price of all houses having 2,000 square feet and a rating of 8: and a point prediction of the sales price of a single house having 2,000 square feet and a rating of 8: 3. What is the total variation J. unexplained variation and explained variation 4. What is the adjusted R2 5. Use the F(model) statistic and the appropriate critical value to test the significance of the linear regression model under consideration by setting a equal to .05. (1) What are the F(model) statistic and the F critical value (2) Reject or do not reject HO (Click to select) (3) Is the model significant? (Click to select) 6. Find the p-value related to F(model) on the output Using the p-value, test the significance of the linear regression model by setting a = .001. Reject or do not reject HO (Click to select) 7. Using the t statistic and appropriate critical values, test the significance of B1 by setting a equal to .01. (1) What are the t value and the positve t critical value (2) Reject or do not reject HO (Click to select) (3) Is B1 significant? (Click to select) 8. Using the t statistic and appropriate critical values, test the significance of B2 by setting a equal to .01. (1) What are the t value and the positive t critical value | (2) Reject or do not reject HO (Click to select) (3) Is B2 significant? (Click to select) 9. Calculate the 99 percent confidence interval for B1? Lowerl limit Upper limit Y 100% View only A B D 1 1 Real Estate Sales Price 2 3 Home Size X1 23 Rating X2 4 5 5 6 11 2 7 9 8 Sales Price Y 180 98.1 173.1 136.5 141 165.9 193.5 127.8 163.5 172.5 20 17 15 3 8 9 10 21 4 7 11 24 12 13 6 13 7 19 25 14 2 15 16 1 THE REAL ESTATE SALES PRICE CASE A real estate agency collects the data concerning y = sales price of a house (in thousands of dollars) x1 = home size (in hundreds of square feet) x2 = rating an overall "niceness rating for the house expressed on a scale from 1(worst] to 10 (best), and provided by the real estate agency) Scatter plots of y versus x1 and y versus x2 are as follows: Price Price Size, X1 Rating, X2 Click here for the data. 1. What is b1 and b2 2. Calculate a point estimate of the mean sales price of all houses having 2,000 square feet and a rating of 8: and a point prediction of the sales price of a single house having 2,000 square feet and a rating of 8: 3. What is the total variation J. unexplained variation and explained variation 4. What is the adjusted R2 5. Use the F(model) statistic and the appropriate critical value to test the significance of the linear regression model under consideration by setting a equal to .05. (1) What are the F(model) statistic and the F critical value (2) Reject or do not reject HO (Click to select) (3) Is the model significant? (Click to select) 6. Find the p-value related to F(model) on the output Using the p-value, test the significance of the linear regression model by setting a = .001. Reject or do not reject HO (Click to select) 7. Using the t statistic and appropriate critical values, test the significance of B1 by setting a equal to .01. (1) What are the t value and the positve t critical value (2) Reject or do not reject HO (Click to select) (3) Is B1 significant? (Click to select) 8. Using the t statistic and appropriate critical values, test the significance of B2 by setting a equal to .01. (1) What are the t value and the positive t critical value | (2) Reject or do not reject HO (Click to select) (3) Is B2 significant? (Click to select) 9. Calculate the 99 percent confidence interval for B1? Lowerl limit Upper limit
