A real estate broker is interested in identifying the factors that determine the price of a house. She wants to run the following regression: Y=B₁ + B₂X₂ +B₂X3+ B₂X+u where Y = price of the house in $1,000s,X, number of bedrooms,X= square footage of living space, andX, number of miles from the beach.image 1Taking a sample of 30 houses, the broker runs a multiple regression and gets the following results:Y-123.2+4.59x2 +0.125xy-6.04x4.511032,5,-2.13.0.062, 3, 4.17,R²=0.47, and 2-0,45 (adjusted).What is the approximate p-value associated with the software default hypothesis test for the significance of By?Use the 2 table to calculate the p-value.ⒸA. Ho: 0HI:, NOT 0The test statistic is: 1.71The critical value at a 0.05 (Using Dougherty A.2 table) is: 2.02Using the 2 table, the p-value is: 0.0872Fail to reject Ho NOT SIGNIFICANT.B. None of these answers are correct.OCHO: B-0HI: Bynot 01The test statistic is: 2:02The critical value at a=0.05 (Using Dougherty A.2 table) is: +1.71Using the Z table, the p-value is: 0.0436Reject Ho, Accept HINOT SIGNIFICANT O D. Ho: B3=0H1: B3 not = 0The test statistic is: 2.02image 2The critical value at a=0.05 (Using Dougherty A.2 table) is: +\- 1.706Using the Z table, the p-value is: 0.0872Fail to reject Ho => NOT SIGNIFICANT.E. Ho: 63-0H1: B3 not = 0The test statistic is: 2.02The critical value at a=0.05 (Using Dougherty A.2 table) is: +\- 1.71Using the Z table, the p-value is: 0.0434Reject Ho, Accept H1 => SIGNIFICANT.

Solution: From the given information, the multiple regression is

Answered: A real estate broker is interested in…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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