Question

Seventy homes that were for sale in Gainesville, Florida in Spring of 2019 were randomly selected. A regression model to predict house price in thousands was run based on first floor square footage and the indicator variable for NorthWest (1 if the house was in the NW, O if not).

Term	Estimate	Std. Error
Intercept	-92.27	51.04
NorthWest	-67.62	29.87
firstfloorsquarefootage	0.216	0.013

Find the predicted house price in thousands for a house with 1,953 square feet on the first floor and in the SW. Round your answer to two decimal points.

Answer 1

Answer:-

Given That:-

Seventy homes that were for sale in Gainesville, Florida in Spring of 2019 were randomly selected. A regression model to predict house price in thousands was run based on first floor square footage and the indicator variable for NorthWest (1 if the house was in the NW, O if not).

Term	Estimate	Std. Error
Intercept	-92.27	51.04
Northwest	-67.62	29.87
firstloorsquarefootage	0.216	0.013

Find the predicted house price in thousands for a house with 1,953 square feet on the first floor and in the SW. Round your answer to two decimal points.?

the regression equation is

house price ( north west) (first floor square footage)

since value of

the predicted equation is

y^ (first floor footage)

or

y^

when { because house in the SW}

Y^ =