Bluereef real es tate 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 perta ining to 100 houses were processed us ing MINITAB and the following is an extract of the output obtained: The regress ion equa tion is Price = B+ pBedroom + yHouse Size + ALot Size Coef Predictor SE Coef т 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 SS MS F P Regression Residual 3. 76501718347 25500572782 *** **** Error 96 60109046053 626135896 Total 99 a) Write out the reg ression equation. b) Fill in the missing values ", *, *** and ****. c) Use the p-value approach to determine if o is significant at the 5% significance level d) Is y significantly different from -0.5? e) Perform the F test at the 1% level, making sure to sta te the null and alternative hypotheses. f) Give an interpretation to the term "R-sq" and comment on its value.
Bluereef real es tate 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 perta ining to 100 houses were processed us ing MINITAB and the following is an extract of the output obtained: The regress ion equa tion is Price = B+ pBedroom + yHouse Size + ALot Size Coef Predictor SE Coef т 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 SS MS F P Regression Residual 3. 76501718347 25500572782 *** **** Error 96 60109046053 626135896 Total 99 a) Write out the reg ression equation. b) Fill in the missing values ", *, *** and ****. c) Use the p-value approach to determine if o is significant at the 5% significance level d) Is y significantly different from -0.5? e) Perform the F test at the 1% level, making sure to sta te the null and alternative hypotheses. f) Give an interpretation to the term "R-sq" and comment on its value.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 91E
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Transcribed Image Text:Question 3
Bluereef real es tate 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 perta ining to 100 houses were processed us ing MINITAB and the following is an extract
of the output obtained:
The regress ion equa tion is Price = ß+ ÞBedroom + yHouse Size + ALot Size
Predictor
Coef
SE Coef
T
37718
14177
2.66
**
Constant
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
SS
MS
F
P
Regression
76501718347 25500572782
***
****
Residual
Error
96
60109046053
626135896
Total
99
a) Write out the reg ression 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
d) Is y significantly different from -0.5?
e) Perform the F test at the 1% level, making sure to sta te the null and alternative hypotheses.
f) Give an interpretation to the term "R-sq" and comment on its value.
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