Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

wa 10 Q . Search in Document Home Insert Draw Design Layout References Mailings Review View Acrobat Table Design Layout + Share Calibri (Body) *

image text in transcribed
wa 10 Q . Search in Document Home Insert Draw Design Layout References Mailings Review View Acrobat Table Design Layout "+ Share Calibri (Body) * 12 AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbCcDdEE AaBb( AaBbCCDdEe Paste BIU abe XZ X A L A. Normal No Spacing Heading 1 Heading 2 Title Subtitle Styles Create and Share Request Pane Adobe PDF Signatures 10.38 Predicting Prices of Homes Here is some output for the HomesForSale dataset fitting a model to predict the price of a home (in $1000s) using size (in square feet), number of bedrooms, and number of bathrooms. The regression equation is + Price = 103.75 + 0.082 Size - 25.81 Beds + 84.96 Baths Predictor Coef SE Coef T P Constant 103.75 92.92 1.12 0.267 Size 0.082 0.0426 1.92 0.057 Beds -25.81 32.82 -0.79 0.433 Baths 84.96 34.48 2.46 0.015 S = 228.1 R-Sq = 19.5% R-Sq(adj) = 17.5% Analysis of Variance Source DF SS MS F P Model 3 1464285 488095 9.38 0.00001 Error 116 6033150 52010 Total 119 7497435 1. What is the predicted price for a 2500 square foot, four bedroom home with 2.5 baths? 2. Which predictor has the largest coefficient (in magnitude)? 3. Which predictor appears to be the most important in this model? 4. Which predictors are significant at the 5% level? 5 . Interpret the coefficient of Size in context. 6. Interpret what the ANOVA output says about the effectiveness of this model. 7. Interpret R2 for this model. Page 1 of 1 184 words English (United States) Focus E + 160%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Advanced Engineering Mathematics

Authors: ERWIN KREYSZIG

9th Edition

0471488852, 978-0471488859

More Books

Students also viewed these Mathematics questions