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HouseID Age(years) Size(sqft) Bedrooms Price($1,000) 1 7 1580 3 132.0 2 8 1744 3 123.9 3...

HouseID Age(years) Size(sqft) Bedrooms Price($1,000)
1 7 1580 3 132.0
2 8 1744 3 123.9
3 5 1863 3 159.1
4 7 1824 4 126.0
5 3 1924 4 128.3
6 10 1707 4 145.4
7 5 1898 3 126.1
8 5 2063 4 128.4
9 7 1641 3 147.4
10 7 1524 3 121.5
11 4 2144 3 167.7
12 9 1518 2 109.2
13 8 1645 3 132.6
14 5 2741 4 212.3
15 6 1718 3 111.8
16 7 1713 3 119.6
17 8 2240 4 162.0
18 6 1809 3 145.1
19 3 1588 4 124.4
20 9 1941 3 129.8
21 8 1783 4 127.4
22 6 2186 4 141.8
23 7 2018 4 131.3
24 4 2375 4 164.2
25 7 1801 4 127.9
26 5 2266 3 158.8
27 2 1891 3 131.2
28 6 2514 4 173.3
29 7 1738 3 121.4
30 6 2091 3 170.0
31 7 2495 4 185.6
32 5 1551 3 111.4
33 10 1814 4 134.9
34 9 1822 3 117.1
35 6 2289 4 186.8
36 8 2080 3 141.4
37 9 1758 3 137.6
38 9 2299 3 181.5
39 8 2190 3 139.2
40 8 1671 3 137.6
41 7 1544 3 137.4
42 6 1331 2 93.7
43 6 1386 3 86.5
44 4 2219 4 153.0
45 5 1793 3 129.4
46 8 1812 3 145.5
47 11 1499 3 124.2
48 4 1766 3 134.6
49 3 2060 3 162.5
50 9 1529 3 109.1
51 6 1276 2 97.9
52 7 2086 3 146.8
53 6 1395 2 95.1
54 4 1409 2 116.0
55 8 2009 3 155.3
56 7 1894 4 144.1
57 8 1190 2 88.8
58 5 1811 3 152.6
59 2 1689 3 146.5
60 7 1690 3 136.4
61 6 1685 3 125.2
62 6 1588 3 127.6
63 6 1730 3 143.6
64 5 1951 3 158.8
65 3 2040 3 139.9
66 8 1749 3 141.2
67 6 1111 2 86.7
68 5 1775 4 116.2
69 9 1478 2 100.7
70 10 2125 3 171.8
71 4 1596 3 135.1
72 5 1610 3 139.5
73 4 1724 2 151.4
74 4 1713 3 122.5
75 9 1490 3 115.3
76 10 1881 3 152.4
77 2 1868 3 162.0
78 8 2257 4 163.6
79 9 1614 4 145.3
80 5 1775 3 143.7
81 5 1770 3 129.3
82 2 2213 3 175.1
83 3 1743 3 152.2
84 6 2068 3 162.8
85 9 1705 3 126.7
86 6 1788 4 138.5
87 6 2334 4 180.1
88 5 1579 2 103.0
89 5 1478 2 105.1
90 4 2042 3 167.2
91 8 2263 3 158.8
92 9 1659 3 122.5
93 4 1978 4 131.1
94 4 1598 3 125.2
95 2 2523 4 197.9
96 7 1846 3 143.5
97 8 2292 3 163.2
98 8 1872 3 153.8
99 7 1954 3 146.1
100 5 1679 3 118.4

1). Which predictor variables are statistically significant at the 10% significance level?

2). What is the slope and p-value of the bedrooms variable?

3). What percentage of the variability in price is explained by this model?

Solutions

Expert Solution

Here' the answer to the question. Please don't hesitate to give a "thumbs up " for the answer in case you're satisfied with the answer

Here' the regression exercise explained. I have performed the linear regression analysis on Excel below:

1). Which predictor variables are statistically significant at the 10% significance level?

Only variables with less than .10 p-value are statistically significant. Only Size has a p-value less than .10, so it the only variable which is  statistically significant at the 10% significance level.

2). What is the slope and p-value of the bedrooms variable?

-1.458 is the slope of Bedrooms, p-value is 0.58581

3). What percentage of the variability in price is explained by this model?

74.113% of the variability in price is explained by this model. This is got from the R square in the 1st table of the linear regression output. It is a good R square indicating that current set of predictor variables capture good amount of variance in Price.


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