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 (x1) is the square footage, the second independent variable (x2) is the number of bedrooms, and the third independent variable (x3) is the age of the house.

Effects on Selling Price of Houses

Square Feet	Number of Bedrooms	Age	Selling Price
2032	4	9	262300
1101	3	8	182200
1526	5	9	176700
1612	3	15	265500
2607	2	2	257100
2077	3	10	255000
1277	3	13	275600
2048	3	10	156800
2339	3	9	290200

Step 1 of 2 :  

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

Step 2 of 2:

Determine if a statistically significant linear relationship exists between the independent and dependent variables at the 0.05 level of significance. If the relationship is statistically significant, identify the multiple regression equation that best fits the data, rounding the answers to three decimal places. Otherwise, indicate that there is not enough evidence to show that the relationship is statistically significant.

Answer 1

using excel>data>data analysis >regression

we have

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.565951
R Square	0.3203
Adjusted R Square	-0.08752
Standard Error	51561.1
Observations	9
ANOVA
	df	SS	MS	F	Significance F
Regression	3	6.26E+09	2.09E+09	0.785396	0.551326
Residual	5	1.33E+10	2.66E+09
Total	8	1.96E+10
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	139463.7	156069.8	0.893598	0.412478	-261726	540653.9
Square Feet	48.33784	45.58933	1.060288	0.337522	-68.8533	165.5289
Number of Bedrooms	-16873.3	23566.57	-0.71598	0.506038	-77453.1	43706.51
Age	6496.772	6119.409	1.061667	0.336953	-9233.67	22227.21

Step 1 of 2 :  

= the p-value for the regression equation that fits the given data is 0.5513

Step 2 of 2: Since p value of F stat is greater than 0.05 so we cannot say that statistically significant linear relationship exists between the independent and dependent variables at the 0.05 level of significance

there is not enough evidence to show that the relationship is statistically significant.