a) Write out the regression equation. b) Fill in the missing values *, **, *** and ****. c) Use the p-value approach to determine if ø is significant at the 5% significance level

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Bluereef real estate agent wants to form a relationship between the prices of houses, how many bedrooms, House size in sq ft and Lot Size in sq ft.
The data pertaining to 100 houses were processed using MINITAB and the following is an extract of the output obtained: 

 

Bluereef real estate agent wants to form a relationship between the prices of houses, how many
bedrooms, House size in sq ft and Lot Size in sq ft.
The data pertaining to 100 houses were processed using MINITAB and the following is an extract
of the output obtained:
The regression equation is Price = ß + ¢Bedroom + yHouse Size + ALot Size
Predictor
Coef
SE Coef
T
P
Constant
37718
14177
2.66
**
Bedrooms
2306
6994
0.33
0.742
House Size
74.3
52.98
0.164
Lot Size
-4.36
17.02
-0.26 0.798
S= 25023
R-Sq=56.0%
R-Sq (adj)=54.6%
Source
DF
MS
F
P
Regression
3
76501718347 25500572782
***
****
Residual
Error
96
60109046053
626135896
Total
99
a) Write out the regression equation.
b) Fill in the missing values *, **, *** and ****.
c) Use the p-value approach to determine if ø is significant at the 5% significance level
Transcribed Image Text:Bluereef real estate agent wants to form a relationship between the prices of houses, how many bedrooms, House size in sq ft and Lot Size in sq ft. The data pertaining to 100 houses were processed using MINITAB and the following is an extract of the output obtained: The regression equation is Price = ß + ¢Bedroom + yHouse Size + ALot Size Predictor Coef SE Coef T P Constant 37718 14177 2.66 ** Bedrooms 2306 6994 0.33 0.742 House Size 74.3 52.98 0.164 Lot Size -4.36 17.02 -0.26 0.798 S= 25023 R-Sq=56.0% R-Sq (adj)=54.6% Source DF MS F P Regression 3 76501718347 25500572782 *** **** Residual Error 96 60109046053 626135896 Total 99 a) Write out the regression equation. b) Fill in the missing values *, **, *** and ****. c) Use the p-value approach to determine if ø is significant at the 5% significance level
Expert Solution
steps

Step by step

Solved in 4 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
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 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…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
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
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman