A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size). House size is measured in meter square and income is measured in IDR millions. The builder randomly selected 50 families and ran the multiple regression. Partial Microsoft Excel output is provided below: Which of the independent variables in the model are significant at the 5% level?Formulate the hypothesis and explain the answer.How far can you rely upon this model? Or, what is the percentage variation in Houseexplained by the model?What is the predicted house size (in hundreds of square feet) for an individual earningan annual income of IDR 400 million and having a family size of 4? Regression StatisticsMultiple R0.8479R Square0.7189Adjusted R Square0.7069Standard Error17.5571Observations50ANOVAdfSSMSFSignificance FRegression37043.323618521.66180.0000Residual14487.7627308.2503Total4951531.0863CoefficientsStandard Errort StatP-valueIntercept-5.51467.2273-0.76300.4493Income0.42620.039210.86680.0000Size5.54371.69493.27080.0020

The study is to determine how house size is influenced by family income and family size.

Answered: A real estate builder wishes to…

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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A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size). House size is measured in meter square and income is measured in IDR millions. The builder randomly selected 50 families and ran the multiple regression. Partial Microsoft Excel output is provided below:

Which of the independent variables in the model are significant at the 5% level?

Formulate the hypothesis and explain the answer.
How far can you rely upon this model? Or, what is the percentage variation in House

explained by the model?
What is the predicted house size (in hundreds of square feet) for an individual earning

an annual income of IDR 400 million and having a family size of 4?