(a) Identify dependent variable and independent variables. (b) Develop a regression model. (c) Predict the selling price of a 10-year old house, with 2000 square foot house, and have 3 bedrooms. (d) Determine which factors/independent variables that is significant in predicting selling price of a house? Use p-value method at 0.05 level of significance.

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1)
The SPSS output give the selling price, square footage, number of bedrooms, and age
of houses that have sold in a neighborhood in the past 6 months.
Model Summary
Adjusted R
Square
Std. Error of
Model
R
R Square
the Estimate
1
.932
.868
.837
15231.904
a. Predictors: (Constant), Age, Bedrooms, Square_Footage
ANOVA
Sum
Mean Square
Sig.
.000b
Model
Squares
df
F
1
Regression
19794476008
3
6598158669
28.439
Residual
3016141639
13
232010895.3
Total
22810617647
16
a. Dependent Variable: Selling_Price
b. Predictors: (Constant), Age, Bedrooms, Square_Footage
Coefficients
Standardized
Unstandardized Coefficients
Coefficients
Model
Std. Error
Beta
Sig.
1
(Constant)
91446.493
26076.890
3.507
.004
Square_Footage
29.858
10.861
.490
2.749
.017
Bedrooms
2116.855
10003.009
.034
.212
.836
Age
-1504.766
370.820
-.520
-4.058
.001
a. Dependent Variable: Selling_Price
(a)
Identify dependent variable and independent variables.
(b)
Develop a regression model.
(c)
Predict the selling price of a 10-year old house, with 2000 square foot house, and
have 3 bedrooms.
(d)
Determine which factors/independent variables that is significant in predicting
selling price of a house? Use p-value method at 0.05 level of significance.
Transcribed Image Text:1) The SPSS output give the selling price, square footage, number of bedrooms, and age of houses that have sold in a neighborhood in the past 6 months. Model Summary Adjusted R Square Std. Error of Model R R Square the Estimate 1 .932 .868 .837 15231.904 a. Predictors: (Constant), Age, Bedrooms, Square_Footage ANOVA Sum Mean Square Sig. .000b Model Squares df F 1 Regression 19794476008 3 6598158669 28.439 Residual 3016141639 13 232010895.3 Total 22810617647 16 a. Dependent Variable: Selling_Price b. Predictors: (Constant), Age, Bedrooms, Square_Footage Coefficients Standardized Unstandardized Coefficients Coefficients Model Std. Error Beta Sig. 1 (Constant) 91446.493 26076.890 3.507 .004 Square_Footage 29.858 10.861 .490 2.749 .017 Bedrooms 2116.855 10003.009 .034 .212 .836 Age -1504.766 370.820 -.520 -4.058 .001 a. Dependent Variable: Selling_Price (a) Identify dependent variable and independent variables. (b) Develop a regression model. (c) Predict the selling price of a 10-year old house, with 2000 square foot house, and have 3 bedrooms. (d) Determine which factors/independent variables that is significant in predicting selling price of a house? Use p-value method at 0.05 level of significance.
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