A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings during one month. Complete parts a through c. A Click the icon to view the house sales data. - X House sales data a. Develop a multiple regression model for sales price as a function of lot cost and type of home without any interaction term. Create a dummy variable named "Townhouse", where it is equal to 1 when Type = "Townhouse" and 0 otherwise. Determine the coefficients of the regression equation. Туре Townhouse Single Family $138,530 Townhouse Single Family Townhouse Townhouse Sales Price = 108726 +( 3.68 ) • Lot Cost + ( – 75063 ) • Townhouse (Round the constant and coefficient of Townhouse to the nearest integer as needed. Round all other values to two decimal places as needed.) Sales Price $114,740 Lot Cost $21,700 $26,550 $149,905 $172,000 $183,916 $189,390 b. Determine if an interaction exists between lot cost and type of home and find the best model. Use a = 0.1 as the level of significance. First determine whether an interaction exists. Select the correct choice below and, if necessary. fillin te answer box to complete your choice. © A. An interaction exists because the p-value of the variable Lot Cost · Townhouse is . which is less than a. $25,550 $26,200 $46,025 $28,000 $36,000 $46,025 $46,025 $40.299 $37,500 Single Family $191,120 Townhouse Townhouse Single Family Single Family $216,205 Townhouse Single Family $257,000 Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family $494,820 (Type an integer or a decimal rounded to three decimal places as needed.) O B. An interaction exists because the p-value of the variable Townhouse i $198,898 $205,076 $207,821 s. which is greater than a. (Type an integer or a decimal rounded to three decimal places as needed.) $252,800 $74,400 $44,198 $44,344 $42,099 $46,000 $45,650 $58,000 $60,000 $46,850 OC. An interaction exists because the p-value of the variable Lot Cost is which is greater than a. (Type an integer or a decimal rounded to three decimal places as needed.) O D. No interaction exists because the p-value is less than a for all of the independent variables $270,000 $270,500 $273,105 $279,720 $296,990 $303,500 $309,487 $314,898 $321,602 $326,412 $339,374 $339,380 $340,065 $356,117 $361,949 $434,426 $41,768 $83,300 $63,523 $71,449 $50,150 $55,850 $57 219 $51,591 $58,422 $85,122 Print Done
A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings during one month. Complete parts a through c. A Click the icon to view the house sales data. - X House sales data a. Develop a multiple regression model for sales price as a function of lot cost and type of home without any interaction term. Create a dummy variable named "Townhouse", where it is equal to 1 when Type = "Townhouse" and 0 otherwise. Determine the coefficients of the regression equation. Туре Townhouse Single Family $138,530 Townhouse Single Family Townhouse Townhouse Sales Price = 108726 +( 3.68 ) • Lot Cost + ( – 75063 ) • Townhouse (Round the constant and coefficient of Townhouse to the nearest integer as needed. Round all other values to two decimal places as needed.) Sales Price $114,740 Lot Cost $21,700 $26,550 $149,905 $172,000 $183,916 $189,390 b. Determine if an interaction exists between lot cost and type of home and find the best model. Use a = 0.1 as the level of significance. First determine whether an interaction exists. Select the correct choice below and, if necessary. fillin te answer box to complete your choice. © A. An interaction exists because the p-value of the variable Lot Cost · Townhouse is . which is less than a. $25,550 $26,200 $46,025 $28,000 $36,000 $46,025 $46,025 $40.299 $37,500 Single Family $191,120 Townhouse Townhouse Single Family Single Family $216,205 Townhouse Single Family $257,000 Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family $494,820 (Type an integer or a decimal rounded to three decimal places as needed.) O B. An interaction exists because the p-value of the variable Townhouse i $198,898 $205,076 $207,821 s. which is greater than a. (Type an integer or a decimal rounded to three decimal places as needed.) $252,800 $74,400 $44,198 $44,344 $42,099 $46,000 $45,650 $58,000 $60,000 $46,850 OC. An interaction exists because the p-value of the variable Lot Cost is which is greater than a. (Type an integer or a decimal rounded to three decimal places as needed.) O D. No interaction exists because the p-value is less than a for all of the independent variables $270,000 $270,500 $273,105 $279,720 $296,990 $303,500 $309,487 $314,898 $321,602 $326,412 $339,374 $339,380 $340,065 $356,117 $361,949 $434,426 $41,768 $83,300 $63,523 $71,449 $50,150 $55,850 $57 219 $51,591 $58,422 $85,122 Print Done
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
I need help with question b
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman