Question
In: Statistics and Probability
Effects on Selling Price of Houses Square Feet Number of Bedrooms Age Selling Price 1125 2...
| Square Feet | Number of Bedrooms | Age | Selling Price |
|---|---|---|---|
| 1125 | 2 | 1 | 121500 |
| 1461 | 3 | 4 | 123600 |
| 1527 | 3 | 8 | 158100 |
| 1719 | 4 | 9 | 214800 |
| 1745 | 4 | 9 | 215500 |
| 2197 | 4 | 11 | 255000 |
| 2414 | 4 | 13 | 257200 |
| 28302830 | 4 | 14 | 262200 |
| 30153015 | 5 | 14 | 282400 |
Determine if a statistically significant linear relationship exists between the independent and dependent variables at the 0.01 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.
Solutions
Expert Solution
Note: The last two values in Square Feet are looking like mistakenly typed 28302830 and 30153015 these should be 2830 and 3015, please check these values once with your professor, if they were intentionally entered in that way but it does not make sense because they do not match with the rest of the data.
orchestra answered 10 months agoRelated Solutions
The following data give the selling price, square footage, number of bedrooms, and age of houses...
The following data give the selling price, square footage,
number of bedrooms, and age of houses that have sold in a
neighborhood in the past 6 months. Develop three regression models
to predict the selling price based upon each of the other factors
individually. Which of these is best? use 1 for yes and 0 for
no
develop a regression model to predict selling price based on the
square footage and number of bedrooms. Use this to predict the
selling...
The following data give the selling price, square footage, number of bedrooms, and age of houses...
The following data give the selling price, square footage,
number of bedrooms, and age of houses that have sold in a
neighborhood in the past 6 months. Develop three regression models
to predict the selling price based upon each of the other factors
individually. Which of these is best?
Selling Price
Square Footage
Bedrooms
Age (Years)
84000
1670
2
30
79000
1339
2
25
91500
1712
3
30
120000
1840
3
40
127500
2300
3
18
132500
2234
3
30...
2) The following data gives the selling price, square footage, number of bedrooms, and the age...
2) The following data gives the selling price, square footage,
number of bedrooms, and the age of a house in years. These houses
have been sold in a specific neighborhood over the last six
months.
Selling Price ($)
Square Footage
Bedrooms
Age (years)
84,000
1,670
2
30
79,000
1,339
2
25
91,500
1,712
3
30
120,000
1,840
3
40
127,500
2,300
3
18
132,500
2,234
3
30
145,000
2,311
3
19
164,000
2,377
3
7
155,000
2,736
4
10
168,000...
2) The following data gives the selling price, square footage, number of bedrooms, and the age...
2) The following data gives the selling price, square footage,
number of bedrooms, and the age of a house in years. These houses
have been sold in a specific neighborhood over the last six
months.
Selling Price ($)
Square Footage
Bedrooms
Age (years)
84,000
1,670
2
30
79,000
1,339
2
25
91,500
1,712
3
30
120,000
1,840
3
40
127,500
2,300
3
18
132,500
2,234
3
30
145,000
2,311
3
19
164,000
2,377
3
7
155,000
2,736
4
10
168,000...
The following data gives the selling price, square footage, number of bedrooms, and the age of...
The following data gives the selling price, square footage,
number of bedrooms, and the age of a house in years. These houses
have been sold in a specific neighborhood over the last six
months.
Selling Price ($)
Square Footage
Bedrooms
Age (years)
84,000
1,670
2
30
79,000
1,339
2
25
91,500
1,712
3
30
120,000
1,840
3
40
127,500
2,300
3
18
132,500
2,234
3
30
145,000
2,311
3
19
164,000
2,377
3
7
155,000
2,736
4
10
168,000
2,500...
The following data gives the selling price, square footage, number of bedrooms, and age (in years)...
The following data gives the selling
price, square footage, number of bedrooms, and age (in years) of
condominiums that were sold in a neighborhood in the Bronx in the
past six months
Selling Price
Square Footage
No. of Bedrooms
Age of Condo
64000
1670
2
30
59000
1339
2
25
61500
1712
3
30
79000
1840
3
40
87500
2300
3
18
92500
2234
3
30
95000
2311
3
19
113000
2377
3
7
115000
2736
4
10
138000...
Descriptive Statistic Price Living Area (Square Feet) Number of Bedrooms Number of Bathrooms Age (Years) Mean...
Descriptive Statistic
Price
Living Area (Square Feet)
Number of Bedrooms
Number of Bathrooms
Age (Years)
Mean
160695.775
1733.874
3.136
1.8805
27.871
Standard Error
2132.773719
17.45410352
0.022891658
0.019322088
1.012996802
Median
148829.5
1656
3
2
18
Mode
139079
1480
3
2.5
1
Standard Deviation
67444.22686
551.9472165
0.723897802
0.611018079
32.03377158
Sample Variance
4548723737
304645.7299
0.524028028
0.373343093
1026.162522
Kurtosis
3.889356216
-0.420418335
-0.363359978
-1.004482917
5.291745807
Skewness
1.371395188
0.478357102
0.010298402
0.018867528
2.173487195
Range
552807
2785
4
3
208
Minimum
26049
672
1
1
0
Maximum
578856...
(House Selling Price) The data below show the selling price, square footage, bedrooms, and age of...
(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...
Selling Price Square Footage No. of Bedrooms Age of Condo 64000 1670 2 30 59000 1339...
Selling Price
Square Footage
No. of Bedrooms
Age of Condo
64000
1670
2
30
59000
1339
2
25
61500
1712
3
30
79000
1840
3
40
87500
2300
3
18
92500
2234
3
30
95000
2311
3
19
113000
2377
3
7
115000
2736
4
10
138000
2500
3
1
142500
2500
4
3
144000
2479
3
3
145000
2400
3
1
147500
3124
4
0
144000
2500
3
2
155500
4062
4
10
165000
2854
3
3
State the...
Selling Price (Y) Square Footage (X1 ) Bedrooms (X2 ) Age (X3 ) 84,000 1670 2...
Selling Price (Y)
Square Footage (X1 )
Bedrooms (X2 )
Age (X3 )
84,000
1670
2
30
79,000
1339
2
25
91,500
1712
3
30
120,000
1840
3
40
127,500
2300
3
18
132,500
2234
3
30
145,000
2311
3
19
164,000
2377
3
7
155,000
2736
4
10
168,000
2500
3
1
172,500
2500
4
3
174,000
2479
3
3
Determine a correlation matrix for
the above variables.
Indicate if any collinearity exists between or among the
independent variable....
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