In: Statistics and Probability
Question 1 Run a regression model to estimate the cost of a building using average story height (mean centered) and total floor area (mean centered) as predictors. Using the adjusted R Square statistic, how much variation in the dependent variable can be explained by the model?
Select one: a. between 95% and 98% b. above 98 percent c. between 90% and 95% d. less than 90%
Question 2 Run a regression model to estimate the cost of a building using average story height (mean centered) and total floor area (mean centered) as predictors. Is story height a significant predictor at .05 level?
Select one: a. Yes b. No
Question 3 Run a regression model to estimate the cost of a building using average story height (mean centered) and total floor area (mean centered) as predictors. Is total area a significant predictor at .05 level?
Select one: a. Yes b. No
Question 4 Run a regression model to estimate the cost of a building using average story height (mean centered) and total floor area (mean centered) as predictors. Which of the following is wrong about the slope of total area?
Select one: a. It gives the expected change in the predicted cost for each 1 m2 change in total area, holding story height constant. b. It is a significant slope c. The expected cost of a building with a total area of 1 m2 is HK$13,965
Question 5 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Run a regression model to estimate the cost of a building using average story height (mean centered) and total floor area (mean centered) as predictors. Which of the following is wrong about the slope of story height?
Select one: a. It gives the expected change in the predicted cost for each 1 cm change in story height, holding total area constant. b. It is a significant slope c. The expected cost of a building with a story height of 0 cms is HK$3,185,038
Question 6 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Run a regression model to estimate the cost of a building using average story height (mean centered), total floor area (mean centered), and construction type (dummy coded) as predictors. Using the adjusted R Square statistic, how much variation in the dependent variable can be explained by the model?
Select one: a. between 95% and 98% b. above 98 percent c. between 90% and 95% d. less than 90%
Question 7 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Run a regression model to estimate the cost of a building using average story height (mean centered), total floor area (mean centered), and construction type (dummy coded) as predictors. Which of the following is correct about the intercept?
Select one: a. It is the expected cost of a steel building with an average story height and an average total area. b. It is the expected cost of a reinforced concrete building with an average story height and an average total area. c. It is the expected cost of a steel building with a story height of 0 cm and an average total area. d. It is the expected cost of a reinforced concrete building with an average story height and a total area of 0 m2.
Question 8 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Run a regression model to estimate the cost of a building using average story height (mean centered), total floor area (mean centered), and construction type (dummy coded) as predictors. According to the model, is it significantly more expensive (at .05 level) to build a steel building compared to a reinforced concrete building, holding everything else constant?
Select one: a. no b. yes
Question 9 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Run a regression model to estimate the cost of a building using average story height (mean centered), total floor area (mean centered), and construction type (dummy coded) as predictors. Which of the following is wrong about the slope of story height?
Select one: a. it is the expected change in the predicted building cost for a one unit change in story height, holding total area and construction type constant. b. Has a positive relationship with the cost of building c. Has a negative relationship with the cost of building
Question 10 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Run a regression model to estimate the cost of a building using average story height (mean centered), total floor area (mean centered), and construction type (dummy coded) as predictors. Which of the following is wrong about the slope of total area?
Select one: a. it is the expected change in the predicted building cost for a one unit change in total area, in holding story height and construction type constant. b. Has a positive relationship with the cost of building c. Has a negative relationship with the cost of building
Building type | Average floor area (m2) | Total floor area (m2) | avg story height(cms) | COST (HK$) |
1 | 1852 | 81478 | 410 | 1467000000 |
1 | 1608 | 64313 | 411 | 1150000000 |
1 | 1430 | 55783 | 403 | 1028000000 |
1 | 1562 | 57794 | 390 | 1100000000 |
1 | 1109 | 37695 | 391 | 728000000 |
1 | 905 | 28048 | 382 | 558000000 |
1 | 1852 | 81478 | 410 | 1467000000 |
1 | 901 | 30617 | 391 | 631000000 |
1 | 1727 | 69062 | 400 | 1223000000 |
1 | 1161 | 37148 | 394 | 761000000 |
1 | 1004 | 37141 | 400 | 713000000 |
1 | 1216 | 38912 | 390 | 784000000 |
1 | 2007 | 88302 | 422 | 1593000000 |
1 | 2983 | 173000 | 440 | 2649000000 |
2 | 1523 | 70080 | 372 | 1210000000 |
2 | 912 | 28286 | 370 | 607000000 |
2 | 1343 | 53715 | 382 | 977000000 |
2 | 1175 | 32908 | 381 | 700000000 |
2 | 1203 | 40902 | 393 | 811000000 |
2 | 1393 | 52951 | 392 | 1001000000 |
2 | 713 | 20681 | 375 | 468000000 |
2 | 1047 | 37681 | 411 | 747000000 |
2 | 1506 | 63270 | 421 | 1156000000 |
2 | 1642 | 70624 | 423 | 1268000000 |
2 | 1848 | 73936 | 403 | 1333000000 |
2 | 1627 | 60190 | 402 | 1162000000 |
2 | 1301 | 40321 | 384 | 864000000 |
2 | 905 | 25330 | 405 | 561000000 |
2 | 1727 | 72514 | 400 | 1303000000 |
2 | 1414 | 52318 | 392 | 1013000000 |
2 | 2001 | 76022 | 431 | 1487000000 |
2 | 400 | 9200 | 380 | 263000000 |
2 | 3100 | 102190 | 454 | 2112000000 |
2 | 1677 | 83860 | 410 | 1519000000 |
2 | 2415 | 130032 | 420 | 2045000000 |
2 | 1555 | 46637 | 410 | 1025000000 |
2 | 792 | 20596 | 420 | 540000000 |
Building Type | ||||
1 | Reinforced Concrete | |||
2 | Steel |
1)Option A (Adjusted R-squared: 0.9786)
R Code:
reg<-lm(dat$`COST (HK$)`~dat$`avg story height(cms)`+dat$`Total floor area (m2)`)
summary(reg)
Output:
Coefficients:
Estimate Std. Error t value Pr(>|t|)
(Intercept) -1.007e+09 3.234e+08 -3.115 0.003724 **
dat$`avg story height(cms)` 3.185e+06 8.511e+05 3.742 0.000674 ***
dat$`Total floor area (m2)` 1.397e+04 5.043e+02 27.694 < 2e-16 ***
Signif. codes: 0 ‘***’ 0.001 ‘**’ 0.01 ‘*’ 0.05 ‘.’ 0.1 ‘ ’ 1
Residual standard error: 72020000 on 34 degrees of freedom
Multiple R-squared: 0.9798, Adjusted R-squared: 0.9786
F-statistic: 824.8 on 2 and 34 DF, p-value: < 2.2e-16
2)Yes,avg story height is a significant predictor at level 0.05 since pvalue=0.003724 < 0.05
3)Yes,Total floor area is a significant predictor at level 0.05 since pvalue< 2e-16 < 0.05.
4)c)The expected cost of a building with a total area of 1 m2 is HK$13,965
5)c). The expected cost of a building with a story height of 0 cms is HK$3,185,038
6)Option A (Adjusted R-squared: 0.9792)
R Code:
reg<-lm(dat$`COST (HK$)`~dat$`avg story height(cms)`+dat$`Total floor area (m2)`+dat$`Building type`)
summary(reg)
Output:
Coefficients:
Estimate Std. Error t value Pr(>|t|)
(Intercept) -1.034e+09 3.197e+08 -3.234 0.00277 **
dat$`avg story height(cms)` 3.101e+06 8.420e+05 3.683 0.00082 ***
dat$`Total floor area (m2)` 1.406e+04 5.025e+02 27.987 < 2e-16 ***
dat$`Building type` 3.375e+07 2.434e+07 1.387 0.17480
Signif. codes: 0 ‘***’ 0.001 ‘**’ 0.01 ‘*’ 0.05 ‘.’ 0.1 ‘ ’ 1
Residual standard error: 71060000 on 33 degrees of freedom
Multiple R-squared: 0.9809, Adjusted R-squared: 0.9792
F-statistic: 565.5 on 3 and 33 DF, p-value: < 2.2e-16
7)d.) It is the expected cost of a reinforced concrete building with an average story height and a total area of 0 m2.
8)No it is not significantly more expensive since p value=0.17480>0.05.
9)c.) Has a negative relationship with the cost of building
10)c.) Has a negative relationship with the cost of building