please explain with an example. Call:1m (formula = priceM2 - age + distMet + latitude + longitude,data = RealEstate)Residuals:10 Median-33.069 -5.343 -1.050Min304.410 71.305МаxCoefficients:t value-0.563EstimateStd. ErrorPr (>|t|)0.573(Intercept)Age-3.650e+036.478e+031.22e-09 **9.88e-16 **1.13e-08 **-2.526e-014.060e-02-6.221distMet-5.875e-037.027e-04-8.361latitude2.714e+024.655e+015.830longitude-2.532e+015.120e+01-0.4950.621Signif. codes: 0 ***** 0.001 '*** 0.01 '** 0.05 '.' 0.1''1Residual standard error: 9.355 on 409 degrees of freedomMultiple R-squared: 0.5319, Adjusted R-squared: 0.5273F-statistic: 116.2 on 4 and 409 DF, p-value: < 2.2e-16f) A new variable is added to the model which is longitude of the residence. Summary output is givenabove. What do you think of the new model? Do you think this variable should be added to the model,

Please find step by step solution below:

Call: lm(formula = priceM2 - age + distMet + latitude + longitude, data = RealEstate) Residuals: 30 10 Median -33.069 -5.343 -1.050 4.410 71.305 Min Маx Coefficients: Estimate -3.650e+03 Std. Error 6.478e+03 t value -0.563 -6.221 Pr (>|t|) 0.573 (Intercept) 1.22e-09 *** 9.88e-16 *** 1.13e-08 *** 0.621 -2.526e-01 4.060e-02 Age distMet -5.875e-03 7.027e-04 -8.361 latitude 2.714e+02 4.655e+01 5.830 longitude -2.532e+01 5.120e+01 -0.495 Signif. codes: 0 ***** 0.001 '*** 0.01 * 0.05 '.' 0.1''1 Residual standard error: 9.355 on 409 degrees of freedom Multiple R-squared: 0.5319, Adjusted R-squared: 0.5273 F-statistic: 116.2 on 4 and 409 DF, p-value: < 2.2e-16 f) A new variable is added to the model which is longitude of the residence. Summary output is given above. What do you think of the new model? Do you think this variable should be added to the model,

Call: lm(formula = priceM2 - age + distMet + latitude + longitude, data = RealEstate) Residuals: 30 10 Median -33.069 -5.343 -1.050 4.410 71.305 Min Маx Coefficients: Estimate -3.650e+03 Std. Error 6.478e+03 t value -0.563 -6.221 Pr (>|t|) 0.573 (Intercept) 1.22e-09 * 9.88e-16 * 1.13e-08 * 0.621 -2.526e-01 4.060e-02 Age distMet -5.875e-03 7.027e-04 -8.361 latitude 2.714e+02 4.655e+01 5.830 longitude -2.532e+01 5.120e+01 -0.495 Signif. codes: 0 * 0.001 '* 0.01 * 0.05 '.' 0.1''1 Residual standard error: 9.355 on 409 degrees of freedom Multiple R-squared: 0.5319, Adjusted R-squared: 0.5273 F-statistic: 116.2 on 4 and 409 DF, p-value: < 2.2e-16 f) A new variable is added to the model which is longitude of the residence. Summary output is given above. What do you think of the new model? Do you think this variable should be added to the model,

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.3: Using Data Displays

Problem 2C

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Concept explainers

Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.

Question

100%

please explain with an example.

Call:
1m (formula = priceM2 - age + distMet + latitude + longitude,
data = RealEstate)
Residuals:
10 Median
-33.069 -5.343 -1.050
Min
30
4.410 71.305
Маx
Coefficients:
t value
-0.563
Estimate
Std. Error
Pr (>|t|)
0.573
(Intercept)
Age
-3.650e+03
6.478e+03
1.22e-09 **
9.88e-16 **
1.13e-08 **
-2.526e-01
4.060e-02
-6.221
distMet
-5.875e-03
7.027e-04
-8.361
latitude
2.714e+02
4.655e+01
5.830
longitude
-2.532e+01
5.120e+01
-0.495
0.621
Signif. codes: 0 ***** 0.001 '*** 0.01 '** 0.05 '.' 0.1''1
Residual standard error: 9.355 on 409 degrees of freedom
Multiple R-squared: 0.5319, Adjusted R-squared: 0.5273
F-statistic: 116.2 on 4 and 409 DF, p-value: < 2.2e-16
f) A new variable is added to the model which is longitude of the residence. Summary output is given
above. What do you think of the new model? Do you think this variable should be added to the model,

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