b-2. Calculate the value of the test statistic. (Round your answer to 3 decimal places.) Test statistic b-3. At the 5% significance level, what is the condlusion to the test? Are the explanatory variables jointly significant in explaining Price? O Reject He the explanatory variables are jointly significant in explaining Price. O Reject re the explanatory variables are not jointly significant in explaining Price. O Do not reject H, the explanatory variables are jointly significant in explaining Price. O Do not reject M, the explanatory varlables are not jointly significant in explaining Price. c-1. Choose the appropriate hypotheses to test whether each of the explanatory variables are individually significant in explaining Price. O Hại 0g - 0; Ha: O O Het o - 0; HA: ,

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Question
B-2 through c-2
A
Price
Sqft
Beds
Baths
2
840000
2768
3.5
3
322000
2500
2.5
4
713000
2400
3
5
689000
2200
2.5
6.
685000
2716
3.5
645000
8.
2524
2
625000
2732
4
2.5
A Realtor examines the factors that influence the price of a house in Arlington, Massachusetts. He collects data on recent house sales
(Price) and notes each house's square footage (Sqft) as well as its number of bedrooms (Beds) and number of bathrooms (Baths) A
portion of the data is shown in the accompanying table.
620000
2436
4
3.5
10
587500
2100
3.
1.5
11
585000
1947
1.5
12
583000
2224
3
2.5
Price
13
569000
3262
4
Sqft
2,768
2,500
Beds
Baths
2
14
546000
1792
840,000
822,000
4.
3.5
4
2.5
15
540000
1488
15
18
537000
2907
2.5
307,500
850
17
S16000
1951
4
2
18
511000
1752
1.5
19
510000
1727
A Click here for the Excel Data File
20
495000
1692
3.
21
463000
1714
22
457000
a. Estimate: Price = 6a + 6,Saft + 8,Beds + 83Baths - E. (Round your answers to 2 decimal ploces.)
1650
2.
23
451000
1685
2.
24
435000
1500
1.5
Price
25
431700
1896
2
1.5
Sqft
Beds +
Baths
26
%3D
414000
1182
2
1.5
27
401500
1152
b-1. Choose the appropriate hypotheses to test whether the explanatory variables are jointly significant in explaining price
28
399000
1383
29
380000
1344
30
380000
1272
O Hạ -d 0 HA At least one d e
31
375900
2275
32
372000
1005
O He: 01- 02- d - 0 HA At least one40
33
367500
1272
1.
OHo 01- 020s MAi AT least one
34
356500
35 330000
1431
2
1362
36
330000
1455
3
37 307500
1.
Arlington Homes
Transcribed Image Text:A Price Sqft Beds Baths 2 840000 2768 3.5 3 322000 2500 2.5 4 713000 2400 3 5 689000 2200 2.5 6. 685000 2716 3.5 645000 8. 2524 2 625000 2732 4 2.5 A Realtor examines the factors that influence the price of a house in Arlington, Massachusetts. He collects data on recent house sales (Price) and notes each house's square footage (Sqft) as well as its number of bedrooms (Beds) and number of bathrooms (Baths) A portion of the data is shown in the accompanying table. 620000 2436 4 3.5 10 587500 2100 3. 1.5 11 585000 1947 1.5 12 583000 2224 3 2.5 Price 13 569000 3262 4 Sqft 2,768 2,500 Beds Baths 2 14 546000 1792 840,000 822,000 4. 3.5 4 2.5 15 540000 1488 15 18 537000 2907 2.5 307,500 850 17 S16000 1951 4 2 18 511000 1752 1.5 19 510000 1727 A Click here for the Excel Data File 20 495000 1692 3. 21 463000 1714 22 457000 a. Estimate: Price = 6a + 6,Saft + 8,Beds + 83Baths - E. (Round your answers to 2 decimal ploces.) 1650 2. 23 451000 1685 2. 24 435000 1500 1.5 Price 25 431700 1896 2 1.5 Sqft Beds + Baths 26 %3D 414000 1182 2 1.5 27 401500 1152 b-1. Choose the appropriate hypotheses to test whether the explanatory variables are jointly significant in explaining price 28 399000 1383 29 380000 1344 30 380000 1272 O Hạ -d 0 HA At least one d e 31 375900 2275 32 372000 1005 O He: 01- 02- d - 0 HA At least one40 33 367500 1272 1. OHo 01- 020s MAi AT least one 34 356500 35 330000 1431 2 1362 36 330000 1455 3 37 307500 1. Arlington Homes
b-2. Calculate the value of the test statistic. (Round your answer to 3 decimal places.)
Test statistic
b-3. At the 5% significance level, what is the conclusion to the test? Are the explanatory variables jointly significant in explaining Price?
O Reject He the explanatory variables are jointly significant in explaining Price.
O Reject re the explanatory variables are not jointly significant in explaining Price
O Do not reject H. the explanatory variables are jointly significant in explaining Price.
O Do not reject H, the explanatory variables are not jointly significant in explaining Price
c-1. Choose the appropriate hypotheses to test whether each of the explanatory variables are individually significant in explaining
Price.
O He 0 - 0; HA O0
O Het Og - 0; HA e
c-2. At the 5% significance level, are all explanatory variables individually significant in explaining Price?
Explanatory
Variables
Significant in
Explaining Price
Sqft
Beds
Baths
Transcribed Image Text:b-2. Calculate the value of the test statistic. (Round your answer to 3 decimal places.) Test statistic b-3. At the 5% significance level, what is the conclusion to the test? Are the explanatory variables jointly significant in explaining Price? O Reject He the explanatory variables are jointly significant in explaining Price. O Reject re the explanatory variables are not jointly significant in explaining Price O Do not reject H. the explanatory variables are jointly significant in explaining Price. O Do not reject H, the explanatory variables are not jointly significant in explaining Price c-1. Choose the appropriate hypotheses to test whether each of the explanatory variables are individually significant in explaining Price. O He 0 - 0; HA O0 O Het Og - 0; HA e c-2. At the 5% significance level, are all explanatory variables individually significant in explaining Price? Explanatory Variables Significant in Explaining Price Sqft Beds Baths
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