Consider the following ANOVA table for a multiple regression model relating housing prices (in thousands of dollars) to the number of bedrooms in the house and the size of the lot on which the house was built (in square feet). There were 90 total observations. Estimated Price = 24,838.74 + 2339.88 (Bedrooms) + 0.2685 (Lot Size) ANOVA df Regression 2 382,993.4921 Residual 87 627,839.9910 Total 89 1,010,833.4831 SS MS 191,496.7461 26.5358 7216.5516 F Significance F 1.0066E-09 What percent of variation in housing prices is explained by the number of bedrooms and lot size? Round your answer to two decimal places.
Consider the following ANOVA table for a multiple regression model relating housing prices (in thousands of dollars) to the number of bedrooms in the house and the size of the lot on which the house was built (in square feet). There were 90 total observations. Estimated Price = 24,838.74 + 2339.88 (Bedrooms) + 0.2685 (Lot Size) ANOVA df Regression 2 382,993.4921 Residual 87 627,839.9910 Total 89 1,010,833.4831 SS MS 191,496.7461 26.5358 7216.5516 F Significance F 1.0066E-09 What percent of variation in housing prices is explained by the number of bedrooms and lot size? Round your answer to two decimal places.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter4: Estimating Demand
Section: Chapter Questions
Problem 3E
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