Question
In: Operations Management
A real estate builder wishes to determine how house size (House) is influenced by family income...
A real estate builder wishes to determine how house size (House) is influenced by family income (Income), family size (Size), and education of the head of household (School). House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years. The builder randomly selected 50 families and ran the multiple regression. Microsoft Excel output is provided below:
Which of the independent variables in the model are significant at the 5% level?
Solutions
Expert Solution
Which of the independent variables in the model are significant at the 5% level?
Income, Size
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keosha answered 2 hours agoRelated Solutions
A real estate developer wishes to study the relationship between the size of home a client...
A real estate developer wishes to study the relationship between
the size of home a client will purchase (in square feet) and other
variables. Possible independent variables include the family
income, family size, whether there is a senior adult parent living
with the family (1 for yes, 0 for no), and the total years of
education beyond high school for the husband and wife. The sample
information is reported below.
Family
Square Feet
Income (000s)
Family Size
Senior Parent
Education...
A real estate developer wishes to study the relationship between the size of home a client...
A real estate developer wishes to study the relationship between
the size of home a client will purchase (in square feet) and other
variables. Possible independent variables include the family
income, family size, whether there is a senior adult parent living
with the family (1 for yes, 0 for no), and the total years of
education beyond high school for the husband and wife. The sample
information is reported below.
Family
Square Feet
Income (000s)
Family Size
Senior Parent
Education...
A real estate developer wishes to study the relationship between the size of home a client...
A real estate developer wishes to study the relationship between
the size of home a client will purchase (in square feet) and other
variables. Possible independent variables include the family
income, family size, whether there is a senior adult parent living
with the family (1 for yes, 0 for no), and the total years of
education beyond high school for the husband and wife. The sample
information is reported below.
Family
Square Feet
Income (000s)
Family Size
Senior Parent
Education...
A real estate developer is interested in determining the relationship between family income (X) and the...
A real estate developer is interested in determining the
relationship between family income (X) and the
square footage of their home (Y). Seven families are randomly
selected and the (X, Y) measurements are
as follows:
X ($1000) 22, 26, 45, 37, 28, 50, 56
Y (Sq Ft) 16, 17, 26 ,24, 22 ,21, 32
? = 37.71, ? = 22.57
Sxx = 1017.43, Sxy = 351.14, Sxyy = 179.71
(a) Sketch a scatter plot and determine whether it is acceptable...
Exercise 14-12 (LO14-7) A real estate developer wishes to study the relationship between the size of...
Exercise 14-12 (LO14-7)
A real estate developer wishes to study the relationship between
the size of home a client will purchase (in square feet) and other
variables. Possible independent variables include the family
income, family size, whether there is a senior adult parent living
with the family (1 for yes, 0 for no), and the total years of
education beyond high school for the husband and wife. The sample
information is reported below.
Family
Square Feet
Income (000s)
Family Size...
Exercise 14-12 (LO14-7) A real estate developer wishes to study the relationship between the size of...
Exercise 14-12 (LO14-7)
A real estate developer wishes to study the relationship between
the size of home a client will purchase (in square feet) and other
variables. Possible independent variables include the family
income, family size, whether there is a senior adult parent living
with the family (1 for yes, 0 for no), and the total years of
education beyond high school for the husband and wife. The sample
information is reported below.
Family
Square Feet
Income (000s)
Family Size...
The Warren family signed an exclusive real estate listing agreement with Detlefsen real estate brokerage to...
The Warren family signed an exclusive real estate listing agreement
with Detlefsen real estate brokerage to sell their property. The
agreement provided that the Warren's were obligated to pay a
commission of 5% of the sales price if they sell the property to
any person during the term of the exclusive listing agreement. The
term of the agreement was six months long running from January 1 of
the year through June 30th. Detlefsen marketed the property and
secured several offers...
11.29) A builder wants to predict the relationship between house size (as measured by number of...
11.29) A builder wants to predict the relationship between house
size (as measured by number of rooms). and selling price. Two
difference neighbourhoods are compare. A random sample of 215
houses is selected, with the results as follows.
House
Number of rooms
Selling Price ($000)
Neighbourhood
1
8
345
0
2
8
360
1
3
6
325
0
4
8
400
1
5
7
350
1
6
9
360
0
7
13
405
0
8
6
299
0
9
8...
When buying a house most buyers focus on the real estate and not the real property....
When buying a house most buyers focus on the real estate and not
the real property. First what does this mean and how can it create
any potential problems.
A student used multiple regression analysis to study how family spending (y) is influenced by income...
A student used multiple regression analysis to study how family
spending (y) is influenced by income (x1), family size (x2), and
additions to savings (x3). The variables y, x1, and x3 are measured
in thousands of dollars. The following results were obtained.
Anova
df
ss
regression
3
45.9634
residual
11
2.6218
Total
coefficient
Standard error
intercept
0.0136
x1
0.7992
0.074
x2
0.2280
0.190
x3
-0.5796
0.920
Calculate the estimated regression equation for the
relationship between the variables,coefficient of
determination. What...
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