Question
In: Statistics and Probability
Seventy homes that were for sale in Gainesville, Florida in Spring of 2019 were randomly selected....
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.
Solutions
Expert Solution
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^ = 
orchestra answered 2 years agoRelated Solutions
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