Question

(House Selling Price) The data below show the selling price, square footage, bedrooms, and age of houses that have sold in a neighborhood in the last six months. Selling price Square footage Bedrooms Age 64,000 1,670 2 30 59,000 1,339 2 25 61,500 1,712 3 30 79,000 1,840 3 40 87,500 2,300 3 18 92,500 2,234 3 30 95,000 2,311 3 19 113,000 2,377 3 7 115,000 2,736 4 10 138,000 2,500 3 1 142,500 2,500 4 3 144,000 2,479 3 3 145,000 2,400 3 1 147,500 3,124 4 0 144,000 2,500 3 2 155,500 4,062 4 10 165,000 2,854 3 3 Develop seven regression models as below using the corresponding Excel data. ( Model 1) Y = selling price, X 1 = square footage (House Selling Price Model 1 Data) ( Model 2) Y = selling price, X2 = bedrooms (House Selling Price Model 2 Data) ( Model 3) Y = selling price, X3 = age (House Selling Price Model 3 Data) ( Model 4) Y = selling price, X 1 = square footage, X2 = bedrooms (House Selling Price Model 4 Data) ( Model 5) Y = selling price, X 1 = square footage, X3 = age (House Selling Price Model 5 Data) ( Model 6) Y = selling price, X2 = bedrooms, X3 = age (House Selling Price Model 6 Data) ( Model 7) Y = selling price, X 1 = square footage, X2 = bedrooms, X3 = age (House Selling Price Model 7 Data) (House Selling Price) Models 4, 5, and 6 are multiple regression models with two independent variables. Model 7 is a multiple regression model with three independent variables. (a) The adjusted r2 value of model 4 is ___. [Answer format: one decimal place] (b) The adjusted r2 value of model 5 is ___. [Answer format: two decimal places] (c) The adjusted r2 value of model 6 is ___. [Answer format: one decimal place] (d) The adjusted r2 value of model 7 is ___. [Answer format: two decimal places] Write your answer(s) as 1.2, 3.45, 6.7, 8.91

Answer 1

Sol: