Question

The following data was collected to explore how the number of square feet in a house, the number of bedrooms, and the age of the house affect the selling price of the house. The dependent variable is the selling price of the house, the first independent variable (x1x1) is the square footage, the second independent variable (x2x2) is the number of bedrooms, and the third independent variable (x3x3) is the age of the house.

Effects on Selling Price of Houses

Square Feet	Number of Bedrooms	Age	Selling Price
29732973	55	1515	306000306000
27552755	55	1313	305500305500
26672667	44	1313	303900303900
26172617	44	1111	284500284500
23642364	44	99	276000276000
18881888	44	88	197000197000
16861686	33	77	188700188700
13651365	22	77	155700155700
10801080	22	22	131900131900

Copy Data

Step 1 of 2 :  

Find the p-value for the regression equation that fits the given data. Round your answer to four decimal places

Answer 1

Following is the output of multiple regression:

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.992544802
R Square	0.985145184
Adjusted R Square	0.976232295
Standard Error	10800.76263
Observations	9
ANOVA
	df	SS	MS	F	Significance F
Regression	3	38682257633	12894085878	110.5303932	5.44981E-05
Residual	5	583282367	116656473.4
Total	8	39265540000
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	8935.956631	15765.18291	0.566815918	0.595336925	-31589.73618	49461.64945
Square Feet, X1	147.9881484	26.45186106	5.594621418	0.002518853	79.99147489	215.984822
Number of Bedrooms, X2	-13021.82567	9668.01786	-1.346897147	0.235837767	-37874.25676	11830.60541
Age, X3	-4373.335306	3288.31236	-1.329963467	0.240968191	-12826.21133	4079.540713

The p-value of F statistics is: 0.0001