A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, O for no), and the total years of education beyond high school for the husband and wife. The sample Information is reported below. Family Square Feet 1 2 3 4 5 6 7 8 9 10 Step Constant Family Size t-statistic 2,300 2,300 3,400 p-value Income t-statistic p-value S R-Sq R-Sq(adj) 3,360 3,000 2,900 4,100 2,250 4,200 2,800 Income (000s) 60.8 68.4 104.5 89.3 72.2 113 125.4 89.6 133 98 Family Size 2 3 4 3 Answer is not complete. Senior Parent 0 1 0.007 1 1 0 Education 6 7 0 Click here for the Excel Data File a. Develop an appropriate multiple regression equation using stepwise regression. (Use Excel data analysis and enter number of family members first, then their Income and delete any Insignificant variables. Leave no cells blank - be certain to enter "O" wherever required. R and R2 adj are in percent values. Round your answers to 3 decimal places.) 2 10 66226 8
A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, O for no), and the total years of education beyond high school for the husband and wife. The sample Information is reported below. Family Square Feet 1 2 3 4 5 6 7 8 9 10 Step Constant Family Size t-statistic 2,300 2,300 3,400 p-value Income t-statistic p-value S R-Sq R-Sq(adj) 3,360 3,000 2,900 4,100 2,250 4,200 2,800 Income (000s) 60.8 68.4 104.5 89.3 72.2 113 125.4 89.6 133 98 Family Size 2 3 4 3 Answer is not complete. Senior Parent 0 1 0.007 1 1 0 Education 6 7 0 Click here for the Excel Data File a. Develop an appropriate multiple regression equation using stepwise regression. (Use Excel data analysis and enter number of family members first, then their Income and delete any Insignificant variables. Leave no cells blank - be certain to enter "O" wherever required. R and R2 adj are in percent values. Round your answers to 3 decimal places.) 2 10 66226 8
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
Transcribed Image Text:A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other
variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the
family (1 for yes, O for no), and the total years of education beyond high school for the husband and wife. The sample information is
reported below.
Family Square Feet
1
2
3
4
5
6
7
8
9
10
2,300
2,300
3,400
3,360
3,000
2,900
4,100
2,250
4,200
2,800
Step
Constant
Family Size
t-statistic
p-value
Income
t-statistic
p-value
S
R-Sq
R-Sq(adj)
Income
(000s)
60.8
68.4
104.5
89.3
72.2
113
125.4
89.6
133
98
Family Size
2
3
3
1
4
4
2
5
3
5
3
Answer is not complete.
2
Senior
Parent
0
1
0.007✔
0
1
0
1
Click here for the Excel Data File
a. Develop an appropriate multiple regression equation using stepwise regression. (Use Excel data analysis and enter number of
family members first, then their Income and delete any Insignificant variables. Leave no cells blank - be certain to enter "0"
wherever required. R and R² adj are in percent values. Round your answers to 3 decimal places.)
0
0
0
0
Education
4
6
7
0
2
10
6
8
2
6
Transcribed Image Text:b. Select all Independent variables that should be in the final model. (You may select more than one answer. Single-click the box with
the question mark to produce a check mark for a correct answer and double-click the box with the question mark to empty the box
for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
? Senior parent
? Square feet
Family size
? Income
R²
? Education
c. Write out the regression equation.
Square feet
643.5 x
> Answer is complete but not entirely correct.
316 X (Family Size)
d. Report and interpret the adjusted R².
Answer is complete but not entirely correct.
86.51 %
13.7 X (Income)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 6 steps with 7 images
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